HomeMy WebLinkAboutC.C. 06 RELEASE BONDS 01-20-92AGENDA_, ,
c.
`-' JANUARY 13, 1992
WILLIAM A. HUSTON, CITY MANAGER
CONSENT CALENDAR NO. 6
1-20-92
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
TRACT NO. 13788
RECOMMENDATION
That the Tustin City Council accept the public improvements within
Tract No. 13788 and authorize the release of the following bonds of
the indicated amounts:
Faithful Performance Bond
No.
09-12-80
$17,500.00
Labor and Material Bond
No.
09-12-80
$ 8,750.00
Monumentation Bond
No.
09-12-81
$ 7,500.00
BACKGROUND'
- The subject tract was developed by the Irvine Company and is
located between Gallery Way and Rawlings Way and bounded on the
west by Tustin Ranch Road. As a condition of approval of said
tract, the developer was required to post the following
improvements bonds:
Faithful Performance Bond No. 09-12-80 $17,500.00
Labor and Material Bond No. 09-12-80 $ 81750.00
Subdivision Warranty Bond No. 09-12-80 $ 11750.00
Monumentation Bond No. 09-12-81 $ 71500.00
DISCUSSION
All public improvements and tract monumentation have been
constructed/installed to the satisfaction of the Public Works
Department and are ready for acceptance by the Tustin City Council.
The Faithful Performance, Labor and Material and Monumentation
bonds are now ready for release.
The Subdivision Warranty Bond No. 09-12-80 in the amount of
$1,750.00 must remain in effect for the period of one (1) year
after the City's acceptance of the public improvements.
Robert S. Ledendecker Jerr Otteson
Director of Public Works/ Associate Civil Engineer
City Engineer
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