Agenda Item Name:
Title
Approve Agreement with Varco Pruden and authorize staff to issue of letter of credit in support of same.
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Presenter:
Tommy Crosby, Assistant County Manager, 337-6205
Description:
Waive anti-indemnification policy, approve Agreement with Varco Pruden for Owner Direct Purchase of materials for the construction of Sports Event Center, and approve issuance of letter of credit.
Recommended Action:
Recommended Action
1) Waive the County's Policy against contractual indemnity set forth in Resolution 2014-33, and approve and authorize the Chair and the Clerk to execute and deliver the Agreement with Varco Prudent, which includes said indemnification, in substantially the form attached hereto with such changes therein as shall be approved by the Chair upon the advice of the County Manager and the County Attorney.
2) Approve and authorize staff to provide a letter of credit to Varco Pruden to guarantee payment under the Agreement.
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Prior Board Motions:
At the Board's July 13, 2021 meeting, the Board approved:
1) Adopt the Resolution to Approve the Sports Center Development Agreement, Operation & Maintenance Agreement, and Donation of Property to the County.
2) Approve a $30 Million inter-fund loan from the General Fund to be paid back from pre-scheduled draws of the previously approved $30 Million bond issue.
3) Adopt the Resolution for unanticipated revenue and approve the Budget Amendment to establish the project fund.
At the Board's May 25, 2021 meeting, Commissioner Alford motioned Approve the First Amendment to the Pre-Development Agreement for the Multi-Use Sports Center, and to also delegate to the County Manager the authority to amend the pre-development agreement as follows and as often as necessary providing that the accumulative effect of all such amendments does not increase the counties obligation to reimburse the developer by more than 50,000 dollars. Upon a finding by the county manager that the price of one more...
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