Presenter
Presented by Mr. Peduto
Title
Resolution providing for the sale of certain equipment pertaining to the City of Pittsburgh Asphalt Plant to Lindy Paving, Inc. for the sum of $300,000 and providing for the payment of the costs thereof, including but not limited to, the following terms and conditions as set forth in this Resolution.
Body
Be it resolved by the Council of the City of Pittsburgh as follows:
Section 1. The Mayor and the Directors of the Departments of Public Works and General Services on behalf of the City of Pittsburgh ("City') are hereby authorized to enter into an Agreement or Agreements in form approved by the City Solicitor, providing for the disposition of certain plant and equipment pertaining to the City of Pittsburgh Asphalt Plant to Lindy Paving, Inc. ("Lindy Paving") for the sum of Three Hundred Thousand Dollars ($300,000) and providing for the payment of the costs thereof, including but not limited to the following terms and conditions:
a. The sale of aforementioned plant and equipment will be contingent on ratification of a concomitant material supply agreement between the City and Lindy Paving utilizing its facility on Second Avenue in the City of Pittsburgh.
b. Lindy Paving will attempt to sell the aforementioned plant and equipment on the open market. Net proceeds in excess of $120,000, less any necessary dismantling and/or disposal costs, will be shared with the City on a 50-50 basis.
Section 2. All proceeds of the initial sale and any proceeds accruing from Lindy Paving's resale activities shall be deposited into the General Fund.
Section 3. Any Resolution of Ordinance or part thereof conflicting with the provisions of the Resolution is hereby repealed so far as the same affects this Resolution.