HomeMy WebLinkAbout05 RELEASE OF BONDS 04-19-94NO. 5
AGENDA_ -, ·
4-19-94
'E:
APRIL 19, 1994
Inter-Com
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
TRACT 14295
RECOMMENDATION
That the Tustin City Council, at their meeting of April 19, 1994,
authorize the release of the following bonds for the indicated
amounts:
Faithful Performance Bond No. 11127147327
Labor and Materials Bond No. 11127147327
Monumentation Bond No. 11127147335
$402,964.98
$201,492.49
$ 17,500.00.
FISCAL IMPACT
None.
BACKGROUND
The subject tract is located immediately north of patriot Way, east
of Pioneer Road, west of Jamboree Road.
As a condition of approval, the Developer, The Fieldstone Company,
was required to post the following bonds:
Subdivision Warranty Bond No. 11127147327
Faithful Performance Bond No. 11127147327
Labor and Materials Bond No. 11127147327
Monumentation Bond No. 11127147335
$ 40,296.50
$402,964.98
$201,492.49
$ 17,500.00
DISCUSSION:
The Developer has completed the public improvements and
monumentations as required per the 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 the date of acceptance.
Robert .S. Ledendecker
Director of Public Works/
City Engineer
RSL:WEH:idb:acp 14295
Wendy ~. Ha 1 lman
Junior Civil Engineer