HomeMy WebLinkAbout14 RELEASE OF BONDS 12-05-94AGENDA; NO. 1~ 12-5-9t DATE: DECEMBER 5, 1994 Inter-Com TO: FROM: SUBJECT: WILLIAM A. HUSTON, CITY MANAGER PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE TRACT 14576 OF BONDS FOR RECOMMENDATION That the Tustin City Council, at their meeting of December 5, 1994, accept the public improvements as completed and authorize the release of the following bonds for the indicated amounts: Faithful Performance Bond No. 7316 ............... ....$33,626.00 Labor and Materials Bond No. 7316 ................... $16,813.00 MonumentationBondNo. 7317 ......................... $15,000.00 · . FISCAL IMPACT None. BACK~ROUND The subject tract is located on the east side of Pioneer Road at the intersection of Peters Canyon Road (see attached location map). As a condition of approval, the Developer, A-M Homes, Inc., was required to post the following bonds: Subdivision Warranty Bond No. 7316-M ................ $ 3,362.60 Faithful Performance Bond No. 7316 .................. $33,626.00 Labor and Materials Bond No. 7316 ....... ' ............ $16,813.00 MonumentationBondNo. 7317 ......................... $15,000.00 DISCUSSION The Developer has completed the public improvements and monumentation 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. Tim D. Se~ Director of Public Works/ City Engineer TDS:WEI. I:Ir~:Ir i 4..%76 Junior Civil Engineer PROJECT LOCATION MAP Project Location · / · / I II // II II II Ii I/ // // // II II II II II II II II II II il II II COUNTY OF ORANGE