HomeMy WebLinkAboutCC 7 BOND RELEASE 06-18-90DATE:
TO:
FROM:
JUNE 12, 1990
WILLIAM HUSTON, CITY MANAGER
('"-"N'ENT CALENDAR N0. 7
6/18/90
Inter - Com
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND BOND RELEASES
TRACT 13161
RECOMMENDATION:
That the Tustin City Council accept the public improvements related to
Tract No. 13161 and authorize the release of the following bonds:
Faithful Performance No. 9624285 ............ $ 25,000.00
Labor and Materials No. 962428S ............. $ 12,500.00
Faithful Performance No. 963821S ............ $197,800.00
Labor and Materials No. 963821S ............. $ 98,900.00
Monumentation Bond No. 962429S .............. $ 31000.00
BACKGROUND:
The developer, LDM Development, Inc., was required to post certain
bonds covering the public improvements within Tract No. 13161 which
were required as a condition of approval. Tract No. 13161 lies
easterly of Tustin Ranch Road, southerly of Heritage Way and northerly
of Lagier Way.
All public improvements have been completed to the satisfaction of the
Public Works Department and it is recommended that the following bonds
in the specified amounts be released:
Faithful Performance No. 962428S ............
Labor and Materials No. 962428S .............
Faithful Performance No. 963821S ............
Labor and Materials No. 963821S .............
Monumentation Bond No. 962429S ..............
$ 25,000.00
$ 12,500.00
$197,800.00
$ 98,900.00
$ 3,000.00
The subdivision warrant bond nos. 962428S and 963821S in the amounts
of $2500.00 and $19,780.00, respectively, must remain in effect for a
period of one (1) year after the City Council's acceptance of the
public improvements.
Bob Ledendecker
Director of Public Works/City Engineer