HomeMy WebLinkAboutMINUTES - 10031989 - 1.5 j �
TO: BOARD OF SUPERVISORS
FROM: J. MICHAEL WALFORD, PUBLIC WORKS DIRECTOR
DATE: October 3, 1989
SUBJECT: Approval of Escrow Agreement with O.C. Jones & Sons
and Wells Fargo Escrow Services for the San Pablo Dam
Road Slide Repairs Project, Numbers 0671-6T6774-86 and
0671-6R6776-86.
Specific Request(s) or Recommendation(s) & Background &
Justification
RECOMMENDED ACTION:
APPROVE Escrow Agreement, and AUTHORIZE the Public Works Director
to execute the same, with O.C. Jones & Sons and Wells Fargo Escrow
Services for the San Pablo Dam Road Slides Repair Project, Numbers
0671-6T6774-86 and 0671-6R6776-86.
FINANCIAL IMPACT:
None
REASONS FOR RECOMMENDATIO&BACKGROUND:
Pursuant to Sections 22200 and 22300 of the Public Contract. Code,
a Contractor has the option to have the contract payment reten-
tions paid to an Escrow Agent rather than being held by the
contracting agency. Interest earned by the amounts deposited in
escrow will accrue to the contractor's benefit while the security
offered by the retained amount will be assured by the escrow
account. O.C. Jones & Sons, the contractor for this project, has
requested that this action be taken.
Continued on attachment: yes Signature-.
Recommendation of County Administrator
Recommendation of Board Committee
Approve Other:
Signature(s) :
Action of Board on:
Approved as Recommended X Other
Vote of Supervisors I HEREBY CERTIFY THAT THIS IS A TRUE
AND CORRECT COPY OF AN ACTION TAKEN
__X_Unanimous(Absent ) AND ENTERED ON THE MINUTES OF THE
Ayes: Noes: BOARD OF SUPERVISORS ON DATE SHOWN.
Absent: Abstain:
Attested OCT 3 1989
Orig. Div. : PW(Constr) Phil Batchelor
cc: County Administrator Clerk of the Board of
Auditor-Controller Supervisors and County
PublicWorks-Design Administrator
Accounting
R. Bruno
Contractor
tt By � .t.�el� , DEPUTY
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