HomeMy WebLinkAboutC.C. 05 RELEASE BONDS 03-16-92CONSENT CALENDAR NO. S
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SATE:
MARCH 3 , 19 9 2 �
TO:
FROM:
SUR.IECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
TRACT NO. 13735
RECOMMENDATIONS:
That the Tustin City Council accept the public improvements within
Tract No. 13735 and authorize the release of the following bonds of
the indicated amounts:
Faithful Performance Bond No. 09-12-86 .......... $ 55,000.00
Labor and Material Bond No. 09-12-86 ............ 27,500.00
Monumentation Bond No. 09-12-87 ................. 8,400.00
BACKGROUND:
The subject Tract was developed by Regis Contractors, Inc. and is
located between Irvine Boulevard, Heritage Way and Myford Road. As
a condition of approval of said Tract, the developer was required
to post the following Improvement Bonds:
Faithful Performance Bond No. 09-12-86 .......... $ 55,000.00
Labor and Material Bond No. 09-12-86 ............ 27,500.00
Subdivision Warranty Bond No. 09-12-86 .......... 51500.00
Monumentation Bond No. 09-12-87 ................. 8,400.00
DISCUSSION:
All public improvements and Tract monumentation have been
constructed/ installed to the satisfaction of the Public Works
Department and are ready for aacceptance by the Tustin City
Council. The Faithful Performance, Labor and Material and
Monumentation Bonds are now ready for release.
The. Subdivision Warranty Bond No. 09-12-86 in the amount of
$5,500.00 must remain in effect for a period of one (1) year after
the City's acceptance of the public improvement.
,14-ee`- a"",. Y a CLQ_ f j
Robert Ledendecker
Director of Public Works/
City Engineer
RL:JO:ccg:13735
Jer Otteson
Associate Civil Engineer