HomeMy WebLinkAboutC.C. 03 RELEASE BONDS 03-02-92CONSENT CALENDAR NO. 3
3-2-92
AGE i.
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XTE: FEBRUARY 25, 1992
TO: WILLIAM A. HUSTON, CITY MANAGER
FRC)NI: PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT: RELEASE OF MONUMENTATION AND SUBDIVISION WARRANTY BONDS TRACT
13030
RECOMMENDATION:
That the Tustin City Council authorize the release of the following
bonds related to Tract No. 13030 in the amounts shown:
Monumentation No. 5241-2171 ............... $ 4,800.00
Subdivision Warranty No. 5241-2172 ........ 35,913.00
BACKGROUND:
In February, 1991, the City Council accepted all of the public
improvements within Tract No. 13030 and authorized the release of
both the Faithful Performance and Labor and Materials Bonds for
that Tract, which is located at the northwesterly corner of Bryan
Avenue and Jamboree Road.
The developer, Western National Properties, at the time of the
acceptance of the public improvements, had not completed the
required monumentation for Tract No. 13030. Additionally, the
Subdivision Warranty Bond No. 5241-2172, in the amount of
$35,913.00, was required to remain in effect for a period of one
(1) year after the City accepted the public improvements.
DISCUSSION:
The developer has now completed all of the required Tract
monumentation to the satisfaction of the Public Works
Department/Engineering Division and the one year warranty period
has elapsed for the public improvements with no remedial repairs
required on the improvements.
It is requested that the City Council authorize the release of the
following bonds related to Tract No. 13030:
Monumentation No. 5241-2171 ............... $ 41800.00
Subdivision Warranty No. 5241-2172 ......... 35,913.00
Robert Ledendecker
Director of Public Works/City Engineer
RL:ccg:13030