HomeMy WebLinkAbout09 RELEASE OF BONDS 05-18-98DATE: MAY 18, 1998
NO. 9
5-18-98
In t e r-C o rn'e /
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AI~q) RELEASES OF BONDS
FOR TRACT NO. 14022
SUMMARY
The Public Works Department is requesting that the City Council accept the public improvements and
release the bonds for Tract No. 14022.
RECOMMENDATION
It is recommended that the Tustin City Council, at their meeting of May 18, 1998, accept all public
improvements within Tract No. 14022 and authorize release of the following bonds for the indiCated
amounts:
Faithful Performance Bond No. 3SM 778 000 00 ....................................... $10,956.80
Labor and Materials Bond No. 3SM 778 000 00 .......................................... $5,478.40
FISCAL IMPACT
None.
BACKGROUND
The subject tract is located on the southerly side of Wass Street and easterly of Newport Avenue as shown
on the attached location map.
As a condition of approval the developer, Richard C. Webber, TR Webber Family Trust, was required to
post the following improvements bonds.
Faithful Performance Bond No. 3SM 778 000 00 ....................................... $10,956.80
Labor and Materials Bond No. 3SM 778 000 00 .......................................... $5,478.40
Subdivision Warranty Bond No. 3SM 778 000 00 ....................................... $1,095.68
DISCUSSION
The developer has completed all work related to the public improvements and monumentation within Tract
No. 14022 as required by the approved plans to the satisfaction of the Public.Works Department and it is
recommended that the above mentioned bonds be released and the public improvements be accepted by the
City Council. The Subdivision Warranty Bond however, will remain in effect for one year from the date of
acceptance. All tract monumentation was completed prior to recordation of the tract map and therefore, a
monumentation bond was not required.
Tim D. Serlet
Director of Public Works/City Engineer
Dave Balbas
Junior Civil Engineer
TDS:JO:klb/COUNCIL:Release of Bonds Tract 14022
Associate Civil Engineer
Attachments
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