HomeMy WebLinkAbout17 RELEASE OF BONDS 06-06-94AGENDA ¥ -
,TE:
JUNE 6, 1994
Inter-Com
TO: WILLIAM A. HUSTON, CITY MANAGER
FROM' PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND THE RELEASE OF BONDS FOR
TRACT NO. 13096
RECOMMENDATION
That the Tustin City Council, at their meeting of June 6, 19.94,
authorize the release of the following bonds for the indicated amounts:
Faithful Performance Bond No. 11132583979 ............ $430,000.00
Labor and Materials Bond No. 11132583979 ............. 215,000.00
Monumentation Bond No. 11132583987 ..................... 600.00
FISCAL IMPACT
None
BACKGROUND
The subject tract is located southwest of Heritage Way, east of Myford
Road and north of Bryan Avenue.
As a condition of approval,.the Developer, Donald L. Bren Company, was
required to post the following improvement bonds: '
Faithful Performance Bond No. 11132583979 ............ $430,000.00-
Labor and Materials Bond No. 11132583979 ......... ' .... 215,000.00
Subdivision Warranty Bond No. 11132583979 ............ 45,000.00
Monumentation Bond No. 11132583987 ................... 600.00
DISCUSSION
The Developer has completed the public improvements and monumentations
as required, per City approved drawings and the improvements and
monumentations have been accepted by the City. The Subdivision Warranty
Bond is to remain in effect for one year from October 11, 1993.
Robert S. Ledendecker
Director of Public Works/City Engineer
RSL: WEH.. ccg: tr13096
Wendy E.~Hallman
Junior Civil Engineer