HomeMy WebLinkAboutMinutes 06/23/1930
Proceedings of the City Commission of the City of Porl Angeles, Washington
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To t~e City Commission of the
City o~ Port !~seles:
This is to certify that all bills, claims and accounts
payable for labor, material and subcontractor's charges or
otherwise, in cor~ection with the construction of the diver-
sion works, pipe line, tunnel, canal and all other parts of
the Elwha River Extension Project, have been paid by the Olym-
pic Forest Products Company, as contractors, to the extent of
approximately ninety-seven per cent (97%), and that there is
now reserved on hand in caSh by the Olympic Forest Products
Company, an amOQ~t of money more than sufficient to meet the
bal~~ce of_approximately three per cent (3%), which is being
retained pending an adjustment and final acceptance of sub-
contractors' work.
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~e herewith hand you surety bond in the SQ~ of fifty
thousand dollars ($50,000.00), to indemnify the City for full
payment of all remaining outstandine claims for labor, mater-
ial and subcontractors or otherwise, which surety bond it is
understood, is to be accepted by the City in lieu of two per-
formance bonds nOTI outstanding on which Messrs. Zellerbach and
Mills are sureties, which said two bonds are to be exonerated
as of the date of the fifty thousand dollar surety bond above
referred to.
OLYMPIC FOREST PRODUCTS COwPANY,
By
v~ e _Secre nry! . J
and fi1~ the oertificate 01'- theOl;mpio Forest'
upon rea#ns-
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Products, Compan7. d~ted th1a 23rd day of June, 1930. t'rom which it ap-
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pears that the Oom~~ as oontra~tor. has fully paid - and disaharged ap-
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proximate17 97'/. 9f ;t~e total Claims. costs and aharges for labor, sup-
plies. material and' subcontraotors' s oonpensntion OIl a(l(~ount of the con-
struction of the E~lI'ha River Water Extension Pr~ot. and upon the or- -
,
- fer of the oomi>any. to exeoute and deliver a bond with some suretT oom-
pan7 satisfaotory to the City/'as s'uretT. in the sum of $50,000.00, to
indomnlt';r the City for the remaining .3% of outstanding olaims DDi..retain-
.- \ - and
ed by the Gompnuy p~llllng t'1nal adjustment with its sUboontractors./anl'
other" olaims which llIay arise out of the proseoution of the work ,against
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\'Ihioh contingent and outstanding claims the Company now has cash reserves
more than nuf'f'icient, retained on h,md, the following motion was made
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b;r Ma70r nedr~ck. seoonded b7 Commissioner Fillon end unanimous17 llllr-
ried:
"That tlie two oustanding porf01'lllanoe bonds securing the prose-
cution nud falthful:performanoe of the Elwha River Water Extension pro-
jeot by the Ol;ympill Forest Produots ComplUl7, on which the said Company
is prinoipal end J.lossrs. Zellerbaoh and Jl111s are sureties, whir.h bonds
aggr~gB.te the 9UID of $360,000~OO, be- nncl the same are both hereb7 exon-.
!I era1:ed and disoharged as of the dnte of the delivery of the surety' bond
in the sum of $50,000.00 above referred to.n
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