HomeMy WebLinkAboutCC 4 RELEASE OF BONDS 04-02-84CONSENT CALENDAR
NO. 4
TO:
S USJ ECT:
WILLIAM HUSTON, CITY MANAGER
BOB LEDENDECKER, DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS -
TRACT NO. 11282
RECOMMENDATION:
That the Tustin Ci{y Council, at their meeting of April 2, 1984, accept the public
improvements within Tract No. 11282 and authorize the release of the following
bonds:
#2SM561926 Faithful Performance - $18,800~00
#2SM561926 Labor & Materials - - 9,400.00
#2SM563148 Monumentation - 500.00
BACKGROUND:
Tract No. 11282 is located on the southerly side of San Juan Street and just
westerly of Utt Drive. This subdivision was a'one lot tract and was subdivided
into nine condominium units.
DISCUSSION:
The developer, Cornerstone I, Ltd., has requested that the City accept the public
improvements related to Tract No. 11282 and release all pertinent bonds as
follows:
BOND NO. TYPE AMOUNT
2SM561926 Faithful Perforance $18,800.00
2SM561926 Labor and Materials 9,400.00
2SM563148 Monumentation 500.00
All work related to the public improvements has been completed as per the
conditions of approval of Tract No. 11282 and to the satisfaction of the Public
Works Department.
The Subdivision Warranty Bond, No. 2SM561925, in the amount of $1,880.00, must
remain in effect for a period of one year after the acceptance of the public
improvements by the City Council.
o Ledendecker
Director of Public Works/City Engineer
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