HomeMy WebLinkAboutCC 8 RELEASE OF BONDS 07-20-80DATE: JULY 15, 1980
CONSENT CALENDAR
NO. 8
7/21/80
Inter -Corn
TO:
FROM:
SUBJECT:
DAN BLANKENSHIP, CITY ADMINISTRATOR
BOB LEDENDECKER, DIRECTOR OF PUBLIC WORKS/CITY ENGINEER
FINAL ACCEPTANCE OF TRACT NO. lO401 - RELEASE OF BONDS
The developers of Park Irvine Business Center (Tract No. lO401}, an industrial condo-
minium at the southwesterly corner of Myford Road and Walnut Avenue, have requested
that the City accept all public improvements and release all pertinent bonds for the
tract.
All work and clean-up for this tract has been completed to the satisfaction of the
Public Works and Community Development Departments and the Building Division.
RECOMMENDATION:
It is recommended that the Tustin City Council accept the public improvements within
said Tract No. lO401 and authorize the release of the following bonds:
Faithful Performance Bond
No. 7117497 .............................. $99,500.00
Labor and Materials Bond
No. 7117497 .............................. $49,750.00
Monumentation Bond
No. 7117498 .............................. $ 2,640.00
Note: Subdivision Warranty Bond No. 7117497 in the amount of $5,000.00 must remain
in effect for one (1) year after the Tract has been accepted by City Council.
BOB LEDENDECKER
Director of Public Works/
City Engineer
BL:rve
cc: City Clerk