HomeMy WebLinkAboutCC 4 RELEASE OF BONDS 09-07-93AGE N D A
CONSENT CALENDAR NO. 4
..,ATE:
SEPTEMBER 7, 1993
9-7-93 - '
·
Inter-Com
Th-
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND THE RELEASE OF BONDS FOR
TRACT NO. 13557
RECOMMENDATIONS:
That the Tustin City Council authorize the release of the following
bonds for the indicated amounts:
Faithful Performance bond No. 5241-22-36
Labor and Materials Bond No. 5241-22-36
Monumentation Bond No. 5241-22-34
$601,200.00
300,600.00
11,000.00
FISCAL IMPACT:
None
BACKGROUND:
The subject tract is Phase II of the Tustin Market Place, north side of
E1 Camino Real, between Jamboree Road and Myford Road, south of Bryan
Avenue.
As a condition of approval, the Developer, Donahue Schriber, was
required to post the following improvement bonds:
Faithful Performance Bond No. 5241-22-36
Labor and Materials Bond No. 5241-22-36
Subdivision Warranty Bond No. 5241-22-35
Monumentation Bond No. 5241-22-34
$601,200.00
300,600.00
60,120.00
11,000.00
DISCUSSION:
The developer has completed the public improvements and monumentations
as required per City approved drawings and the improvements and
monumentation 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
Junior Civil Engineer
RSL: WEH: ccg: relbond