HomeMy WebLinkAboutCC 8 RELEASE OF BONDS 09-02-86D~A~£G --986- ~ CONSENT CALEN DAR
ENDA
~ 9-2-86
· A.GusT 26, Inter-Corn
TO:
FROM:
SUBJECT:
WILLIAH HUSTON, CITY IqANAGER
PUBLIC WORKS DEPARTtlENT/ENGINEERING DIVISION
ACCEPTANCE OF PUBLIC IHPROVEHENTS AND RELEASE OF BONDS FOR
TP.~CT NO. 12273
RECOMMENDATION:
For the City Council meeting of September 2, 1986.
Accept all public improvements related to Tract
release of the following bonds:
No. 12273 and
Faithful Performance #01NAA024310 .................. $19,000.00
Labor and Materials #01NAA024310 ................... 9,500.00
Monumentation #01NAA024311 ......................... 500.00
authorize the
BACKGROUND:
Tract No. 12273 is a one lot subdivision for condominium purposes located on the
easterly side of "B" Street and just northerly of Mitchell Avenue. The developer
was required to post the following Subdivision Bonds as condition of approval of
said Tract No. 12273:
Faithful Performance Bond No. 01NAA024310 .......... $19,000.00
Labor and Materials Bond No. 01NAA024310 ........... 9,500.00
Monumentation Bond No. 01NAA024311 ................. 500.00
Warranty Bond No. 01NAA024312 ...................... 1,900.00
DISCUSSION:
All public improvements within "B" Street have been completed to the satisfaction
of the Public Works Department and are now ready for acceptance by the City. The
developer, Wong United Development Company, has requested the City to accept all
public improvements and release all bonds.
The Subdivision Warranty Bond must remain in effect for a period of one year after
the City Council's acceptance of said public improvements. All other bonds are
now ready for release.
Bob Ledendecker f ~
Director of Public Works/City Engineer
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