Title
Approval of Amendment of Contract in Lieu of Performance Bond for Crossville Sanitary Landfill
Body
SUMMARY:
The City closed the landfill in 1995 and was required to provide 30 years of post closure care. At that time, the cumulative inflation adjusted total of this care was $1,222,912. As each year passes, the amount of financial assurance is reduced. In 1915, the amount was $596,977.61. For 2016, this is allowed to reduce to $543,727.20. This contract is in lieu of providing a performance bond in this amount to guarantee the financial responsibility.
BUDGET ACCOUNT:
Recommended Action
NECESSARY COUNCIL ACTION: Approve amendment of contract in lieu of performance bond for Crossville Sanitary Landfill (SNL181030206).