NUMB:
980533
VERS:
ORIGINAL
REF:
XXBY:
THE CHAIR
TITLE:
A charter ordinance relating to approval of performance and payment bonds.
SECS:
7-14-3-a am
ANLS:
- Analysis -
This charter ordinance removes the current requirement that the city comptroller approve performance and payment bonds for public works contracts.
BODY:
The Mayor and Common Council of the City of Milwaukee do ordain as follows:
Part 1. Section 7-14-3-a of the charter is amended to read:
7-14. Duties When Common Council Orders Public Works.
3. PERFORMANCE BOND. a. All contracts involving $500 or more for performance of labor or furnishing materials when the same pertain to any public improvement or public work shall contain a provision for the payment by the prime contractor of all claims for labor performed and materials furnished, used or consumed in making the public improvement or performing the public work. Such contracts exceeding $25,000 in cost shall not be made unless the prime contractor gives a performance and payment bond or bonds issued by a surety company licensed to do business in the state of Wisconsin. Such bond shall carry a penalty of not less than the contract price, and shall be conditioned for the faithful performance of the contract and the payment to each person entitled thereto of all the claims for labor performed and materials furnished under the contract to be used or consumed in making the public improvement or performing the public work as provided in the contract and this section. No assignment, modification or change of the contract, or change in the work covered thereby, or any extension of time for the completion of the work may release the sureties on the bond or bonds. [[The performance and payment bond shall be approved as to sufficiency by the comptroller.]]
Part 2. This is a charter ordinance and shall take effect 60 days after its passage and publication, unless within such 60 days a referendum petition is filed as provided in which event this ordinance shall not take effect until submitted to a referendum and approved by a majority of the electors voting thereon.
LRB:
APPROVED AS TO FORM
____________________________
Legislative Reference Bureau
Date: ______________________
CATT:
IT IS OUR OPINION THAT THE ORDINANCE
IS LEGAL AND ENFORCEABLE
____________________________
Office of the City Attorney
Date: ______________________
ZDPT:
City Attorney
DFTR:
City Atty.
LUB:bal
6/19/98
11585
LRB98244.1
TWM/dw
6/26/98
2