HomeMy WebLinkAbout05 RELEASE OF BONDS 09-03-96NO. 5
9-3296
DATE: SEPTEMBER 3,1996 I n t e r- C o m
TO:
WII.LIAM A. HUSTON, CITY MANAGER
FROM:
PUBLIC WORKS DEPARTMENT/ENGINEERING DMSION
,-^-,-ACCEPTANCE OF PUBLIC IMPROVEMENTS AND THE REI,EASE OF BONDS FOR
SUBJ v'~" I :TRACT NO. 14381 (PRESIDIO)
RECO~NDATION
It is, recommended that the Tustin City Council, at their meeting of September 3, 1996, accept all public
improvements within Tract No. 14381 and authorize release of the following bonds for the indicated amounts:
Faithful Performance Bond No. 111-3286-7737
Labor and Materials Bond No. 111-3286-7737
Monumentation Bond No. 111-3296-5994
(Previously Bond No. 111-2715-3994)
$47,509.00
$23,754.50
$ 9,000.00
None.
BACKGROUND
The subject tract is bounded on the west by Pioneer Road, on the east by Tract No. 14748 and on the south by
Tract No. 14567.
As a condition of approval the developer, Califomia Pacific Homes, was required to post the following
improvement bonds:
Faithfial Performance Bond No. 111-3286-7737
Labor and Materials Bond No. 111-3286-7737
Subdivision Warranty Bond No. 111-3286-7737M
Monumentation Bond No. 111-3296-5994
(Previously No. 111-2715-3994)
$47,509.00
$23,754.50
$ 4,750.90
$ 9,000.00
DISCUSSION
The developer has completed all work related to the punic improvements and monumentation within Tract
No. 14381 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.
Tim D Serlet
Director of Public Works/City Engineer
Dave Balbas
Junior Civil Engineer
TDS..DB-.klb:COL~qC~tl~Tr~no. 14381
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