HomeMy WebLinkAboutCC 13 RELEASE OF BONDS 12-07-87,,-.47
CONSENT CALENDAR
NO. 13
'12-7-87
DATE:
NOVEMBER 30, 1987
Inter- Corn
TO:
FROM:
WILLIAM HUSTON, CITY MANAGER
PUBLIC WORKS DEPARTMENT/ENGINEERING DIVISION
SU84ECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS
PARCEL MAP NO. 85-362
RECOMMENDATION
That the Tustin City Council, at their meeting of December 7, 1987
accept the public improvements within Parcel Map No. 85-362 and
authorize the release of the following bonds:
Bond #FB 014 004 - Faithful Performance ........ $9,900.00
Bond #FB 014 004 - Labor and Materials $4,450.00
BACKGROUND
Parcel Ma~ No. 85-362 is a commercial/retail development located on the
east side of Newport Avenue, just -south of Walnut Street. In
conjunction with the development of this parcel,the developer, R. L. B.
Partnership (La Mancha), was required to post public improvement bonds
in the following amounts:
Faithful Performance ............................ $9,900.00
Labor and Materials $4,450.00
Monumentation · $ 800.00
Subdivision Warranty ............................ $ 990.00
DISCUSSION
The developer has requested the City accept all public improvements
within Parcel Map No. 85-362 and release all pertinent bonds related to
this tract.
Ail public improvements related to Parcel Map No. 85-362 have been
completed to the satisfaction of the Public Works and Community
Development departments. Two of the four bonds, the Faithful
Performance and Labor and Materials bonds, are now ready for release by
the City.
The Monumentation bond #FB 014 002 must remain in effect until such time
.as the parcel map is officially recorded and documentation is provided
that all required monumentation is in place and the engineer has been
paid. The Subdivision Warranty bond #FB 014 003 must remain in effect
for a period of one year after the City accepts the public improvements.
Bob Ledendecker
Director of'Public Works/City Engineer
Steve Worrall'-
Assistant Civil Engineer