HomeMy WebLinkAboutCC 7 RELEASE OF BONDS 05-21-90CONSENT CALENDAR NO. 7
5/21/90
DATE: MAY il, 1990
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TO: WILLIAM HUSTON, CITY MANAGER
FROM: PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR
PARCEL MAP NO. 87-201
RECOMMENDATION:
That the Tustin City Council accept all public improvements within
Parcel Map No. 87-201 and authorize the release of all faithful
performance, labor and materials, and monumentation bonds related to
Parcel Map No. 87-201.
BACKGROUND:
The area within the subject Parcel Map No. 87-201 was developed by the
Irvine Company and is located at 28 and 36 Auto Center Drive (Lincoln-
Mercury dealer and vacant parcel, respectively). As a condition of
approval of the development, the Irvine Company was required to post
certain public improvement and monumentation bonds in the amounts as
follows:
Faithful Performance Bond No. 5421-2190 ........... $4,500
Labor and Materials Bond No. 5421-2190 ............ $2,250
Monumentation Bond No. 5421-2192 .................. $2,000
DISCUSSION:
All work related to the above-mentioned public improvement and monument-
ation bonds within Parcel Map No. 87-201 has been completed to the
satisfaction of the Public Works Department and it is recommended that
the above-mentioned bonds be released and the public improvements be
accepted by the City Council.
The Subdivision Warranty Bond No. 5421-2191 in. the amount of -$450.00
must remain in force for a period of one year after the City accepts the
public improvements.
Bob Ledendecker
Director of Public Works/City Engineer