(Amended by Ordinance No. 144020; effective July 11, 1977.)
A. Whenever the City is requested to construct an improvement
without using assessment procedures, and the improvement is to be constructed
under contract in the name of the City, the person or agency submitting the
request shall make an advance deposit into the Trustee Fund to protect the City
against loss on account of obligations to be assumed in connection with the
improvement. The advance deposit shall cover the following items:
1. Estimated amount of the contract for the improvement;
2. A fee for engineering and superintending equal to the
engineer’s estimate of the cost of providing such services. Use
accounting procedure 5.48.030.
3. Overhead of City in advertising for bids, preparing the
contract, disbursing funds, etc., at 1/2 percent of the estimated contract
amount with a minimum of $100.
Additional deposits may be required by the Commissioner In Charge at any
time he may deem necessary to protect the City.
B. Advertising for bids and executing contract shall be
authorized only by the City Council. In no event shall a contract be
awarded for more than 93 percent of the funds on deposit.
C. The deposited funds shall be disbursed by the City Treasurer
on order of the Commissioner In Charge of the improvement project and after
approval by the City Auditor. Disbursements shall be made as follows:
1. Contract payments shall be paid directly to the
2. Engineering fees and overhead shall be paid to the
appropriate fund as revenue after the final cost of the contract has been
3. Prior to the issuance of the certificate of completion by
the City Engineer the fees charged to the permittee will be adjusted to agree
with the actual costs of services as recorded by the City Engineer. The
remaining balance, if any, after payment of all costs shall be returned to the
permittee. If additional funds are required of the permittee, they shall
be paid prior to the issuance of the certificate of