HomeMy WebLinkAbout04 RELEASE OF BONDS 03-18-96DATE:
TO:
FROM:
MARCH 18, 1996
WILLIAM A. HUSTON, CITY MANAGER
N0. 4
IOWA
3-18-96
G`6O�
Inter -Com
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT- ACCEPTANCE OF PUBLIC IMPROVEMENTS AND THE RELEASE OF BONDS
FOR TRACT NO. 13734
It is recommended that the Tustin City Council, at their meeting of March 18, 1996 accept all
public improvements within Tract No. 13734 and authorize the release of the following bonds for
the indicated amounts:
Faithful Performance Bond No. 11127006408 ....................................... $ 35,000.00
Labor and Materials Bond No. 11127006408 ....................................... $ 17,500.00
Monumentation Bond No. 1112700(499 ....................................... $ 15,000.00
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Non
FISCAL IM� PACT Q f< % Kt� i_ Ak l JaA Quc��
BACKGROUND
The subject tract is bounded on the north by Tustin Ranch Road and on the west by La Colina
Drive.
As a condition of approval the developer, Donald L. Bren Company, was required to post the
following improvements bonds:
Faithful Performance Bond No. 11127006408 ....................................... $ 35,000.00
Labor and Materials Bond No. 11127006408 ....................................... $ 17,500.00
Subdivision Warranty Bond No. 11127006408 ............................. $ 3,500.00
Monumentation Bond No. 11127006409 ....................................... $ 15,000.00
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The developer has completed all work related to the public improvements and monumentation
within Tract No. 13734 as required per 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 will remain in
effect for one year from the date of acceptance.
Tim D. Serlet
Director of Public Works/City Engineer
TM:DB:COUNCBIBond.T� 13734
Dave Balbas
Junior Civil Engineer
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AGENijA-s-�� �b
DATE:
TO:
FROM:
SUBJECT:
N0. 4
3-18-96
MARCH 18, 1996 inter -Com
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVES AND THE RELEASE OF BONDS
FOR TRACT NO. 13734
RECO ATION
It is recommended that the Tustin City Council, at their meeting of March 18, 1996 accept all
public improvements within Tract No. 13734 and authorize the release of the following bonds for
the indicated amounts:
Faithful Performance Bond No. 11127006408 ....................................... $ 35,000.00
Labor and Materials Bond No. 111270063408 ....................................... $ 17,500.00
Monumentation Bond No. 11127006408 ....................................... $ 15,000.00
FISCAL Il"ACT
None.
BACKGROUND
The subject tract is bounded on the north by Tustin Ranch Road and on the west by La Colina
Drive.
As a condition of approval the developer, Donald L. Bren Company, was required to post the
following improvements bonds:
Faithful Performance Bond No. 11127006408 ....................................... $ 35,000.00
Labor and Materials Bond No. 11127006408 ....................................... $ 17,500.00
Subdivision Warranty Bond No. 11127006408 ............................. $ 37500.00
Monumentation Bond No. 11127006408 ....................................... $ 15,000.00
DISCUSSION
The developer has completed all work related to the public improvements and monumentation
within Tract No. 13734 as required per 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 will remain in
effect for one year from the date of acceptance.
Tim D. Serlet
Director of Public Works/City Engineer
TDS:DB:C0UNCaA3w s Tract 13734
Dave Balbas
Junior Civil Engineer
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