HomeMy WebLinkAboutCC 5 RELEASE OF BONDS 11-3-86A Al A co, s~,-~ CALENDAR
~-- ,/ NO. 5
L)ATE' OCTOBER 28, 1986
TO:
WILLIAM HUSTON, CITY HANAGER
FROM:
PUBLIC WORKS DEPARTHENT/ENGINEERING DIVISION
SUBJECT: TRACT NO. 12106 - RELEASE OF SUBDIVISION WARRANTY BONDS
RECOMMENDATION:
For the City Council meeting of November 3, 1986.
Authorize the release of the Subdivision Warranty Bond No. 3 SM 572 912 in the
amount of $2,250.00 effective November 4, 1986.
BACKGROUND:
On November 4, 1985, the Tustin City Council accepted the public improvements
within Tract No. 12106 and authorized the release of all pertinent
improvement/monumentation bonds at that time. Tract No. 12106 was a condominium
development located at the southerly side of Walnut Street between Newport Avenue
and Orange Street and was completed by the Ainslie Development.
DISCUSSION:
The Subdivision Warranty Bond is required to remain in effect for a period of one
(1) year after the public improvements within a subdivision are accepted by the
City. This one-year period provides for the warranty required of each subdivider.
The public improvements within Tract No. 12106 have been inspected by the Public
Works Department and have been found to be free from defects and need of repair.
The Subdivision Warranty Bond No. 3 SM 572 912 is ready to be released effective
November 4, 1986.
ob~Ledendecker ~
Director of Public Works/City Engineer
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