HomeMy WebLinkAboutCC 5 RELEASE OF BONDS 04-02-84CONSENT CALENDAR
NO. 5
WILLIAM HUSTON, CITY MANAGER
FROM: BOB LEDENDECKER, DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
SUBJECT:
ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS -
TRACT NO. 11746
RECOMMENDATION:
That the Tustin City Council, at their meeting of April 2, 1984, accept the public
improvements within Tract No. 11746 and authorize the release of the following
bonds:
#7122688
#7122688
#7122689
Faithful Performance - $21,000J00
Labor & Materials - 10,500.00
Monumentation - 500.00
BACKGROUND:
Tract No. 11746 is located on the westerly side of Red Hill Avenue, between Walnut
Avenue and Mitchell Avenue. This subdivision Was a one lot tract and was
subdivided into office condominium units.
DISCUSSION:
The developer, Wellington Group, has requested that the City accept the public
improvements related to Tract No. 11746 and release all pertinent bonds as
follows:
BONO NO. TYPE AMOUNT
7122688 Faithful Perforance $21,000.00
7122688 Labor and Materials 10,500.00
7122689 Monumentation 500.00
All work related to the public improvements has been completed as per the
conditions of approval of Tract No. 11746 and to the satisfaction of' the Public
Works Department.
The Subdivision Warranty Bond, No. 7122688A, in the amount of $2,100.00, must
remain in effect for a period of one year after the acceptance of the public
improvements by the City Council.
'Bob Ledendecker
Oirector of Public Works/City Engineer
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