HomeMy WebLinkAbout11 RELEASE OF BONDS 09-18-00 '~ NO. 11
AG E N DA R Er- O RI
MEETING :"' ~
DATE SEPTEMBER 18, 2000 ~
TO:
FROM:
SUBJECT:
WILLIAM A. HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS FOR TRACT NO.
13835 (VENTURANZA DEL VERDE)
SUMMARY
All public improvements associated with Tract No. 13835 have been completed and the Public Works
Department is recommending release of the bonds.
RECOMMENDATION
It is recommended that the City Council release the following bonds for the indicated amounts:
Faithful Performance Bond No. 1558126 .................................................... $2,000.00
Labor and Material Bond No. 1558126 .................... . ................................... $1,000.00
Monumentation Bond No. 1558127 ............................................................ $4,900.00
FISCAL IMPACT
None.
BACKGROUND
The subject tract is bounded on the north by the Tustin Ranch Golf Course, on the south by Robinson
Drive, on the east by Jamboree Road and on the west by Tract No. 14447 as shown on the attached
location map.
As a condition of approval the developer, Rielly Homes, Inc., was required to post the following
improvement bonds:
Faithful Performance Bond No. 1558126 ................................................... $ 2,000.00
Labor and Material Bond No. 1558126 ....................................................... $1,000.00
Subdivision Warranty Bond No. 1558128 .................................................. $21,410.00
Monumentation Bond No. 1558127 ............................................................ $ 4,900.00
DISCUSSION
The developer has completed all work related to public improvements and monumentation for Tract No.
13835 as required by the Conditions of Approval to the satisfaction of the Public Works Department. It is
recommended that the aboVe mentioned bonds be released by the City Council. The Subdivision Warranty
Bond, however, will remain in effect for one year from the date of acceptance.
Tim D. Serlet
Director of Public Works/City Engineer
,~e~ry,~ttes~n "'~
Associate Civil Engineer
TDS:JO:ccg:Accep Pub Imp & Release bond TR 13835.doc
Attachment
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