HomeMy WebLinkAboutCC 6 RELEASE BONDS 11-15-93AGENDA/
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JATE:
NOVEMBER 15, 1993
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TO: WILLIAM A. HUSTON, CITY MANAGER
FROM: PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJEC~ ACCEPTANCE OF PUBLIC IMPROVEMENTS AND THE RELEASE OF BONDS FOR
TRACT NO. 13796
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RECOMMENDATIONS:
That the Tustin City Council, at their meeting of November 15, 1993,
authorize the release of the following bonds for the indicated amounts:
Faithful Performance Bond No. 111270 06 150 ..... $ 216,500.00
Labor and Materials Bond No. 111270 06 150 ...... 108,250.00
Monumentation Bond No. 111270 06 168 ............ 7,075.00
FISCAL IMPACT:
None
BACKGROUND:
The subject tract is located south of Tustin Ranch Road and west of
Gallery Way.
As a condition of approval, the Developer, Donald L. Bren Company, was
required to post the following improvement bonds:
Faithful Performance Bond No. 111270 06 150 ..... $ 216,500.00
Labor and Materials Bond No. 111270 06 150 ...... 108,250.00
Subdivision Warranty bond No. 111270 06 150 ..... 21,650.00
Monumentation Bond No. 111270 06 168 ............ 7,075.00
DISCUSSION:
The Developer has completed the public improvements and monumentations
as required per City approved drawings and the improvements and the
monumentations have been accepted by the City. The Subdivision Warranty
Bond is to remain in effect for one year from the date of acceptance.
Robert S. Ledendecker
Director of Public Works/City Engineer
RSL:WEH: ccg:tr13796
Hallman
Junior Civil Engineer