HomeMy WebLinkAbout09 RELEASE OF BONDS 07-03-95NO. 9
7-3-95
')ATE:
JULY 3, 1995
Inter-Com
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF IMPRO~S AND AUTHORIZATION FOR THE RELEASE
OF IMPROV~ BOND8 FOR TRACT NO. ~3990
RECONMENDATION
That the Tustin City Council accept the public improvements for Tract
No. 13990 and authorize the City Clerk's office to release the Faithful
Performance, Labor and Materials and Monumentation Bonds for said Tract.
FISCAL IMPACT
None.
BACKGROUND
Lyons Communities/Akins Associates, the DeVeloper of the subject Tract,
was required to post the following bonds to satisfy the Conditions of
Approval for the Final Map:
Faithful Performance Bond No. 11132776185 ..........
Labor and Materials Bond No. 11132776185 ...........
Monumentation Bond No. 11132776193 .................
Subdivision Warranty Bond No. 11132776185 ..........
$421,100.00
$210,550.00
$ 25,000.00
$ 42,110.00
DISCUSSION
The Developer has completed the public improvements that were a
requirement of the Conditions of Approval for Tract No. 13990. The
Public Works Department accepts the completed public improvements and
agrees to the release of the following bonds:
Faithful Performance Bond No. 11132776185 ..........
Labor and Materials Bond No. 11132776185 ...........
Monumentation Bond No. 11132776193 .................
$421,100.00
$210,550.00
$ 25,000.00
The Subdivision Warranty Bond is to remain in effect for one year from
the date of acceptance, at which time it is to be released by the City
Clerk' s office.
Tim D. Ser~t
Director of Public Works/City Engineer
Wendy E. ~Ha 1 lman
Junior Civil Engineer
BROWNING AVENUE
~ EVENINGSIDE OR.
20~I 2022
2051 i 2052
RAHCHWO00 RD. RD.
TUSTIN RANCH f ROAD
PROJECT
OCAT. ION
: