Label
Kokosing Construction Co. Power Outage Settlement
Department of Law
Merritt W. Green III (x1037)
(Revised)
Title
Authorizing the settlement of the City of Toledo's damage claims pending with Kokosing Construction Co., Inc.; authorizing the acceptance and deposit of $89,481.83 to the Facility Operations Fund, Utility Administration Fund, Capital Improvement Fund, and the General Fund, respectively; and declaring an emergency.
Body
SUMMARY & BACKGROUND:
On June 21, 2019 an underground Toledo Edison electric cable was severed during a drilling operation at the intersection of Adams and Superior Streets resulting in a power outage in the City's offices located in the several locations the Downtown. The costs associated with the temporary replacement of power amounts to $89,481.83. On June 2, 2020, the City of Toledo filed a claim with Kokosing Construction Co. for reimbursement of its costs; and on June 25, 2020 Kokosing Construction Co. agreed to pay the amount of $89,481.83 to resolve the City of Toledo's claim.
Summary
NOW, THEREFORE, Be it ordained by the Council of the City of Toledo:
SECTION 1. That the mayor is authorized to accept a payment of $89,481.83 from Kokosing Construction as and for full, final and complete settlement of the City of Toledo's claims against the company related to the 2019 power outage.
SECTION 2. That upon receipt of such payment by Kokosing Construction Co. and after review by the Law Department, the Mayor is authorized to execute and deliver to Kokosing Construction Co. a full, final and complete release of such claim.
SECTION 3. That the Director of Finance is authorized to deposit the settlement proceeds as follows: the sum of $22,613.19 into the Facility Operations Fund, Account Code 7093-26100-1147001STDSTD; the sum of $35,889.54 into the Utility Administration Fund, Account Code 6078-31000-4UC3613STDSTD; the sum of $18,282.10 into the Capital Improvement Fund, Account Code 5040-17500-8CP1919SFTCMP; and t...
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