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HomeMy WebLinkAboutOrdinance 501 n ORDINANCE NO . AN ORDINANCE ENTITLED , " AN ORDINANCE CONTRACTING WITH MORENO- BURKHAM CONSTRUCTION COMPANY , A CORPORATION , TO REPAIR AND MAKE IM- PROVEMENTS ON CERTAIN STREETS WITHIN THE CIT7 OF FAYETTEVILLE , ARK- ANSAS , AND TO FURNISH THE NECESSARY MATERIAL , WORK AND LABOR FOR THE SAME , AND TO PROVIDE FOR THE PAYMENT OF SAID MATERIAL , WOR& AND LABOR: " BE IT ORDAINED BY THE CIT'' COUNCIL OF THE CITy OF FAYETTEVILLE , ARKANSAS : SECTION ONE : That repairs and im -orovements be made upon the fol - lowing named streets in the .City of Fayetteville , Arkansas , at the places herein named , to- wit : Meadow Street and North College Avenue , Spring Street and North College Avenue , Di "kaon Street and North College Avenue , LaFayette Street and North College Avenue , Maple Street and North College Avenue , Davidson Street and North College Avenue . SECTION TWO : That said improvement shall consist of paving of the intersection of said streets and the construction of necessary culverts and drains t00%ke care of the drainage which must pass un- der the paving from the paved streets from the adjacent territory nex# to said intersection of said streets , SECTION THREE : The City of Fa•retteville , Arkanses , by the City Council of said City hereby contracts with the Moreno - Burkham Con- struction Company, a corporation , for the said Moreno- Burkham Construc- tion Company , a corporation , to do and perform the work and labor , and furnish the necessary material for the repair and construction as herein set forth on said streets , and at said interseCAons of streets as herein mentioned , said improvements to be according to the plans and specifications on fibs in the office of the City Engineer of the City of Fayetteville , Arkansas . The City of Fayetteville , agrees to pay MICROFILM said Company for the same as follows : DATE 2, A G REEL 2 . For all work , labor and material furnished , the City of Fayette- ville agrees to pay as follows : For Intersections , Culverts , and Drains- - - -- - - - - - - $7500 : ooj which amount the Council finds to be a fair and ,just compensation for said material furnished and work and labor to be performed in such im- provement . SECTION FOUR : Upon the completion of repairs and improvements upon said streets at the places hereinbiFfore described by said Moreno - Burkham Construction Company , a corporation , and the acceptance of said material used and work and labor done in said revairs and improvements by the City Council of the City of Fayetteville , Arkansas- - said City of Fayetteville agrees to pay said Moreno - Burkham Construction Company , a corporation , Seven Thousand rmFive Hundred ( $7500 • oo ) Dollars to be paid out of the General Revenue Fund of said pity by warrants drawn in favor of said Moreno- Burkham Construction Company , a corporation , or bearer , payable in the following amount , and on the following dates , to- wit : lot year February 1 0, 1924 , $750 . 00 2d year February 12219250 $750 • oo 3d year February 1201926 , $750 . 00 4th year February 1291927 , $750 . 00 5th year February 12 , 1928 , $750 . 00 6th year February 12, 1929 , $750 . 00 7th year February 12219309 $750 . 00 8th year February 12, 1931 , $750 . 00 9th year February 1221932 , $750 . 00 10th year February 12119332 $750 . 00 . If the City of Fayetteville makes default in the payment of any oneof said sums when the same becomes due and payable , the City of " ay- etteville agrees and stipulates with the owner of the warrant , represen- ting the amount of the sum in which the City has defaulted in the pay- ment of , to pay said owner of said warrant the sum of eight per cent in- terest per annum on said amount of said warrant from the date of such j � 3 . default , until theSaid sum is fully paid , as an agreed and stipulated penalty and as damages for failuft to perform its= part of its contanot with said Moreno- Burkham Construction Company, a corporation , or the owner of said warrant. SECTION FIVE : This contract shall be binding upon the City of the Payetteville , Arkansas , from and after 2:kK passage , approval and publication of this Ordinance , and the acceptance of thdsame by the said Moreno- Burkham Construction Company, a corporation , in writing, filed in the office of the City Clerk of the Cite of Fayetteville , Arkansas , andcompliance with its terms by said Moreno- Burkham Construction Company, a corporation , on its part . The City of rayetteville, Arkansas , hereby pledges itself, and all of its officers, to the faithful performance of this contract as herein set forth in this Ordinanee, upon thettll performance of the contract herein set forth, on the part of the said Moreno-Burkham Construction Company, a corporation . SECTION SIX: This Ordinance shall take effect and be in force from and after its passage , approval and publication . Passed and approved this 18th day of February, 1924 . Approved: . . . . . . . . . . : i :*'.�.' ` 00 a 0 9 0 0 4 . . . . . Mayor. Attest : . . . . . . . . . . . . . . . . . ...:. :�: . Clerk .