HomeMy WebLinkAbout05 RELEASE OF BONDS 02-07-94AGENOA?.,
NO. 5
2-7-94
Inter-Com
DATE:
FEBRUARY 7, 1994
TO: WILLIAM A. HUSTON, CITY MANAGER
FROM: PUBLIC WORKS DEPARTMENT~ENGINEERING DIVISION
.
SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AI~D THE RELEASE OF BONDS FOR
TRACT NO. 14567
RECOMMENDATION
That the Tustin City Council, at their meeting of February 7, 1994,
authorize the release of the following bonds for the indicated
amountS:
Faithful Performance Bond No. 111 2715 4000 ......... $ 20,060.40
Labor and Materials Bond No. 111 2715 4000 .......... $ 10,030.20
Monumentation Bond No. 111 2715 4018 ................ $ 7,000.00
FISCAL IMPACT
None.
BACKGROUND
The subject tract is generally located between Pioneer Road and
Jamboree Road and southerly of Patriot Way.
As a condition of approval the developer, the Donald L. Bren Company,
was required to post the following improvement bonds:
Faithful Performance Bond No. 111 2715 400.0 ........ $ 20,060.40
Labor and Materials Bond No. 111 2715 4000 .......... $ 10,030.20
Subdivision Warranty Bond No. 111 2715 4000M ..... Z...$ 2,006.04
Monumentation Bond No.. 111 2715 4018 ................ $ 7,000.00
DISCUSSION
The developer has completed the public improvements and monumentation
as required per City approved drawings, and the improvements and
monumentation is acceptable with the Public Works Department. The
Subdivision Warranty Bond is to remain in effect for one year from
the date of acceptance. .
·
Robert S. Ledendecker
Director-of Public Work~/
City Engineer
Je~ Ot-~eson
Associate Civil Engineer
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