HomeMy WebLinkAboutCC 6 RELEASE OF BONDS 07-01-85A r~ ~ ~k I J'~ A ~ CONSENT CALENDAR
j NO. 6
DATE: JUNE 19, 1985
TO:
FROM:
SU BJ ECT:
WILLIAM HUSTON, CITY MANAGER
BOB LEDENDECKER, DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS -
TRACT NO. 12018
RECOMMENDATION:
That the Tustin City Council, at their meeting of July 1, 1985, accept the public
improvements within Tract No. 12018 and authorize the release of all pertinent
bonds as indicated below.
BACKGROUND:
Tract No. 12018 is a condominium development located at the southeasterly corner
of Holt Ave. and Warren Ave. and was developed by Pierco Development, Inc. The
public improvements consist primarily of curb and gutter, sidewalks, street lights
and street trees along both the Holt Ave. and Warren Ave. frontages, and a storm
drain connection to the flood control channel.-
DISCUSSION:
All public improvements related to Tract No. 12018 have been co~leted to the
satisfaction of the Public Works Department and are ready for acceptance by the
City. The developer has requested release of the following bonds:
Faithful Performance Bond No. 7126492 .......................... $43,000.00
Labor and Materials Bond No. 71264925 .......................... $21,500.00
Monumentation Bond No. 7126494 ................................. $ 1,100.00
The Subdivision Warranty Bo6d No. 7126493 in the amount of $4,300.00 must remain
in effect for a period of one-year after the public improvements have been
accepted by the City.
Bob Ledendecker
Director of Public Works/City Engineer
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