HomeMy WebLinkAboutCity of Tamarac Resolution R-2000-025January 11, 2000 - Temp. Reso. # 8894
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO, R-2000- 615'
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE
PERFORMANCE BOND (LETTER OF CREDIT #514257) IN
THE AMOUNT OF $34,880.00 POSTED FOR THE PAVING
AND DRAINAGE LOCATED ALONG GRANVILLE DRIVE
SOUTH OF NW 80TH STREET; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Lennar, Inc. with Manufacturers Bank as Surety, has filed with the City
a performance bond; (Letter of Credit # 514257) in the amount of $34,880.00 to guarantee
construction of paving and drainage located along Granville Drive South of NW 80" Street;
and
WHEREAS, the paving and drainage has been inspected and found acceptable by
the Public Works Engineering Division; and
WHEREAS, pursuant to City Code Section 10-156, this performance bond has
remained in place for the required one (1) year period in lieu of the warranty bond; and
WHEREAS, it is the recommendation of the Public Works Director and the DRC
Engineer that the performance bond be released; and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be in
the best interest of the citizens and residents of the City of Tamarac to release the
performance bond, Letter of Credit # 514257, in the amount of $34,880.000, posted for the
paving and drainage located along Granville Drive South of NW 80' Street.
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January 11, 2000 - Temp. Reso. # 8894
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NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA THAT:
Section 1: The foregoing "WHEREAS" clauses are hereby ratified and confirmed
as being true and correct and are hereby made a specific part of this resolution.
Section 2: The appropriate City Officials are hereby authorized to release the
performance bond (Letter of Credit # 514257) in the amount of $34,880.00 posted for the
paving and drainage located along Granville Drive South of NW 80th Street. (a copy of the
Letter of Credit is attached hereto as "Exhibit 1 ")
Section 3: That all Resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
Section 4: If any clause, section, other part or application of this Resolution is
held by any court of competent jurisdiction to be unconstitutional or invalid, in part or
application, it shall not affect the validity of the remaining portions or applications of this
Resolution.
Section 5: This Resolution shall become effective immediately upon its passage
and adoption.
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January 11, 2000 - Temp. Reso. # 8894
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PASSED, ADOPTED AND APPROVED this aZ day o,2000.
JOE SCHREIBER
MAYOR
ATTEST:
CAROL GOLD, Cr. MC/AAE
CITY CLERK RECORD OFOOMM1MON
I HEREBY CERTIFY that I have MAYOR SCHREIBER
appr d t is RESOLUTION as DIST i• COWP�?RTN
to f rm DIST 2: V/M MISHKIN
DIST 3: COMM. SULTANOF
DIST 4: COMM. ROSERM
MI ELL S. KRA
CITY ATTORNE
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1 TELRX: 3773134 MM INTL PETCENTER
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164366 era rffrL PET S00 WOODW R C1 VRNU
SWIPT: mmo us 33 900 wFL. - tIn AVENUE
PAX . (3431 779-9115 x9TH EL. - Inc 3341
pBTROIT, yI 48226
APRIL 1, 199s
CITY OF TAMAIYAC
7535 N.W. 86TH AvEmn
TAMARAC. FL 33321
RE: LETTER OF CREDIT NO. 514257
FAVOR: YOURSELv$S
ACCOUNT: L> NNAAR HOMES, I NC .
AMOUNT, $34,090.00
LADIES AND ORNTLEMEN:
PLEAS$ NOTE THAT TyIS LBTTOR REPLACES AND SUPBRCEDES OUR LETTER DATED MARCH 0.
a 1996 WHICH IS HEREBY CANCRLLHD_
PLEASE ACCEPT THIS LETTER AS OUR FORHAL NOTIFICATION THA'r THE ABOVE-MouTION61)
LETTER OF CREDIT WILL BE BXTCKPgP TO APRIL 9. 1977, ASP TRK1' THE AUTOMATIC
RX'TRNSTON CLAUSE OR THIS LETTER OF CREDIT HAS BURN RGIt1STATE•A .
IN 6 BURNT THAT THERE ARE ANY OURSTrONS, PLEASE CIVR OR A CALL, AT
313 2Z1-4659.
l
'TRULY YOURS,
it
INTERNATIONAL BANKING OPPICSR
CC; LEKNAR HOWUS, INC.
100 N.W. 101TH AVR.
MIAMI, PL 33172
CC: BRADLEY A. TBRRYw, MAIL CODE 3381
r_..
ie6 MN6 INTL A
8606 MN9 INTL A
able Address: MANUBANK
RAT, MNBD U5 as
MANUFACTURERS BANK, N.A. . WIw of CooM Dmwon
INTERNATIONAL, BANKING DEPARTMENT
MANUFACTURERS HANK TOWER
RENAISSANCE CENTER
R Q BOX 65012A
ETppOIT, MICHIGAN 40255
IRREVOCAA{E STANDBY -LETTER OF CREDIT DATE: APRIL 10, 199Z
BENT=F'IGIgRY1 NO.: 514257
CITY OF TAMARAC`' , i=' `�' ' ''' 1 �: AMOUNT: 634,880.00
5B11 N W.
TAMARAC:,'FLORIDA '•:33321 ,
GENTLEMEN
WE HEREBY OF EW OUR 'IRREVOCABLE:STANDBY LETTER OF CREDIT NO. S14257 IN YOUR
FAVOR, - FOR ACCOUNT OF LENNAR :HOMES, INC.. 700 N.W. 107TIl AVE., MIAMI, FLORIDA
33172 FORA SUM NOT EXCEEDING -:THIRTY-FOUR THOUSAND EIGHT HUNDRED EIGHTY AND
00/100 U.S. DOLLARS,'Ci34,880.00I AVAILABLE BY YOUR DRAFT AT SIGHT ON'
MANUFACTURERS;BANK',; N.A. WHEN ACCOMPANIED BY:
X A STATEMENT SIGNED'BY•TIIE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE AS
FOLLOWS: "WE CERTIFY THAT LENNAR HOMES, INC. IIAS FAILED TO COMPLETE THE
.INSTALLATION OF PUBLIC IMPROVEMENTS INDICATED ON CERTIFIED CAST ESTIMATE DATED
MAY 15 1990 AND ON PLANS PREPARED BY DANIEL CARNAHAN CONSULTING ENGINEERS AND
APPROUD SY THE CITY ENGINK R:FOR 13RANDVILLE PHASE I PAVING DRAINAGE, SIDEWALK
REQUIREMENTS OFDTAMARACECITY COMESiECTIONS10-156AHASANOT BEEN MET."TH
EXTENDS pNDITION OF TITS LET THAT IT SHALL BE DEEMS —AUTOMATIC L�l
YITHOUT AMENDMENT Fa N YEAR h1ODS FROM THE SXPIRATI F,
UTUR EXPIRATION DATE EAST THIRTY (301 DAYS PRIOR TO ANY
EXPIRATION DATE WE SIIALL NOTIFY YOU BY REGISTERED MAIL THAT WE ELECT NOT TO
%CoN8IDIE ,T IS LET N F CRE IT REN MEY FOR A V SUCH ADP T1004L ERICO. UPON
Y 0U OF NOTT E O A �CIRAW EREUND qq B PROSE NA YOU SIGHT
DRAFT WN ON US HE ACCO ?A TO BYtpp. HE SI HE p ST i NT AS ICATED ABOVE OR
6RECEIPT
FOLEOWS EN EICER IFY THE
TV
VE BEEENAMOTT ITS
IN WR! ING 6 MA UFACT RORSS
BANK, N.A. OF THEIR ELECTION NOT TO RENEW THEIR LETTER OF CREDIT NO. 514257 AND
THAT A WARRANTY BOND RE4UIRED:BY TILE TAMARAC CITY CODE HAS NOT BEEN PROVIDED".'
PARTIAL DRAWINGS ARE PERMITTED..
ALL DRAFTS DRAWN UNDER THIS CREDIT MUST BE MARKED "DRAWN UNDER MANUFACTURERS
BANK, N.A. LETTER OF CREDIT NO, 514267.11
THIS CREDIT IS SUBJECT TO THE•UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY
CREDITS C1983 REVISION), INTERNATIONAL CHAMBER OF COMMERCE, PUBLICATION NO. 400.
THIS ORIGINAL LETTER OF.CRLDIf AND ALL AMENDMENTS THERETO MUST BE SUBMITTED
TO US TOGETHER WITH ANY DRAWINGS HEREUNDER FOR OUR ENDORSEMENT OF ANY PAYMENTS
EFFECTED AY US AND/O''R++ FOR C:AHCCf LLAYION. Nppp
0 CFiI8GCall WI LTBOTpBLY ACH RJAFEDODNWoELIVE� AND IN COMPLIANCE ASTSPTHEECITERMS
IF PRESENTED AT T IS. OFFICE ON, OR BEFORE APRILY9, 1OF 91193 DOCUMENTS AUTOMATICALLY
EXTENDED DATE.
, TOMATI ALLY
YOURS VE Y T ULY,
AUTHORIZED -S ATURE
J.
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