HomeMy WebLinkAboutCC 3 RELEASE OF BONDS 01-05-81DATE:
December 18, 1980
CONSENT CALENDAR
No. 3
1-5-81
ln er-Com
T0: DAN BLANKENSHIP, CITY ADMINISTRATOR
FROM: BOB LEDENDECKER, DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
SUBJECT: ACCEPTANCE OF PUBLIC IMPROVEMENTS AND RELEASE OF BONDS
TRACT NO. 10762
Citcon Corporation, the developers of Tract No. 10762 (Tustin
Acres) has requested acceptance of all public improvements by the
City and release of all pertinent bonds. This tract is located
between Main and Sixth Streets and lies just easterly of the
Costa Mesa (Newport) Freeway.
Ail required public improvements have been completed by the
developer to the satisfaction of the Public Works Department.
Improvement Bonds that are now ready for release are as follows:
Faithful Performance Bond
No. 2619870
Labor and Materials Bond
No. 2619870
$24,000.00
$12,000.00
The remaining Subdivision Warranty Bond No. 2619870 in the amount
of $2400.00 must remain in effect for a period of one (1) year
from the date of acceptance of the public improvements until
January 5, 1982.
RECOMMENDATION:
It is recommended that the Tustin City Council, at their meeting
of January 5, 1981, authorize the release of the previously
mentioned Faithful Performance and Labor/Materials Bonds for
Tract No. 10762.
BOB LEDENDECKER
DIRECTOR OF PUBLIC WORKS/
CITY ENGINEER
BL:db
cc: Mary Wynn