HomeMy WebLinkAbout08 RELEASE OF BONDS 03-15-99AGENDA
DATE: MARCH 15, 1999
NO. 8
3-15-99
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TO: WILLIAM A. HUSTON, CITY MANAGER
FROM' PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBdECT: RELEASE OF BONDS FOR TRACT NO. 13627 (EAST TUSTIN - MASTER TRACT
NORTH OF IRVINE BOULEVARD)
ISUMMARY
All public improvements associated with Tract No. 13627 have been completed and the Public Works Department
is recommending release of the bonds.
RECOMMENDATION
It is recommended that the City Council release the following bonds for the indicated amounts:
Faithful Performance Bond No. 15-29-68
Labor and Materials Bond No. 15-29-68
Monumentation Bond No. 15-29-67
$ 372,500.00
$ 372,500.00
$ 8,OOO.OO
FISCAL IMPACT
None.
BACKGROUND
The Irvine Company previously completed the public improvements that were required as a condition of approval
of Tract No. 13627, except for the portion of Pioneer Road from the intersection with Pioneer Way westerly to the
end of the cul-de-sac as shown on the attached location map.
The completed public improvements for Tract No. 13627 were accepted by the City Council on March 6, 1995 and
the bonds released with the posting of the following bonds for the remaining portion of Pioneer Road:
Faithful Performance Bond No. 15-29-68
Labor and Materials Bond No. 15-29-68
Monumentation Bond No. 15-29-67
$ 372,500.00
$ 372,5OO.OO
$ 8,OOO.OO
Subsequently, the remaining portion of Pioneer Road was constructed as a condition of approval for Tract No.
15563 and appropriate bonds were provided with this tract. With the completion of this construction the
conditions of approval for Tract No. 13627 relating to the public improvements have been satisfied and it is
recommended that the outstanding bonds for Tract No. 13627 now be released.
Release of Bonds for Tract No. 13627- East Tustin- Master Tract North oflrvine Boulevard)
March 8, 1999
Page 2
The acceptance of this portion of Pioneer Road and release of the bonds for Tract No. 15563 will be scheduled for
a future City Council meeting.
Director of Public Works/City Engineer
TDS:JO:ccg:Release of bonds for Tr 13627
Attachments
Associate Civil Engineer
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