HomeMy WebLinkAbout09 RELEASE OF BONDS 8-02-99DATE: AUGUST 2, 1999
NO. 9
8-2--99
TO:
WILLIAM A. HUSTON, CITY MANAGER
FROM: PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT: RELEASE OF BONDS FOR T1LACT NO. 14410 (EL DORADO)
SUMMARY
All public improvements associated with Tract No. 14410 have been completed and the Public Works Department is
recommending release of the bonds.
RECOMMENDATION
It is recommended that the CiD' Council release the following bonds for the indicated amounts:
Faithful Performance Bond No. 415828S ..................................................................... $86,500.00
Labor and Materials Bond No. 415828S ....................................................................... $43,250.00
Monumentation Bond No. 415829S ............................................................................. $15,000.00
FISCAL IMPACT
None.
BACKGROUND
The subject tract is bounded on the east by Pioneer Road, on the north by Tract No. 15681, on the west by Peters Canyon
Regional Park and Lower Peters Retarding Basin, and on the south by Peters Canyon Road.
As a condition of approval the developer, Lewis Homes of California, was required to post the following improvements
bonds:
Faithful Performance Bond No. 415828S ..................................................................... $86,500.00
Labor and Materials Bond No. 415828S ....................................................................... $43,250.00
Subdivision Warrant>; Bond No. 415828S .................................................................... $ 8,650.00
Monumentation Bond No. 415829S ............................................................................. $15,000.00
DISCUSSION
The developer has completed all work related to public improvements and monumentation within Tract No. 14410 as
required by the conditions of approval to the satisfaction of the Public Works Department. It is recommended that the above
mentioned bonds be released by the City Council. The Subdivision Warranty Bond, however, will remain in effect for one
vear from the date of acceptance.
Tim D. Serlet
Director of Public Works/Ci~: Engineer
TDS:DB:ccg:release of bonds TR 14410
Dave Balbas
Junior Civil Engineer
~4.~erry Ott~s0n
Associate Civil Engineer
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