HomeMy WebLinkAboutCity of Tamarac Resolution R-88-184Temp. Reso. #5096
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-88- . :-z'e,/
A RESOLUTION RELEASING PERFORMANCE BONDS
POSTED FOR THE WATER, SEWER AND DRAINAGE
IMPROVEMENTS AND CANAL CROSSING BY WATER
PLACE ASSOCIATES LIMITED PARTNERSHIP FOR
WATER PLACE PROJECT; AND PROVIDING AN
EFFECTIVE DATE,
WHEREAS, Water Place Associates Limited Partnership, as
Principal, and Metro North State Bank, as Surety, has filed
with the City performance Letter of Credit No. 648 in the
amount of $136,671.00 to guarantee the water, sewer and
drainage improvements and performance Letter of Credit No.
649 in the amount of $28,000.00 for a canal crossing for the
Water Place project; and
WHEREAS, the City Engineering Department has found that
the work has been satisfactorily completed and has recom-
mended release of said bonds upon receipt of a one-year
warranty bond in the amount of $41,168.00.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That performance Letter of Credit No. 648
posted by Water Place Associates Limited Partnership, as
Principal, and Metro North State Bank, as Surety, in the
amount of $136,671.00 for water, sewer and drainage
improvements and Letter of Credit No. 649 in the amount of
$28,000.00 for a canal crossing for the Water Place project,
are Hereby Released, subject to receipt of a one year
warranty bond in the amount of $41,168.00.
SECTION 2: This Resolution shall become effective
immediately upon adoption.
PASSED, ADOPTED AND APPROVED this: day of %<1988.
ATTEST:
CAROL E. BARBUTO
CITY CLERK
I HEREBY CERTIFY that I have
approved this RESOLUTION as to
form.
RICHARD DOOPY
CITY ATTORNPY
NORMAN A13RAMOWITZ
MAYOR
RECORD OF COUNCIL VOTE
MAYOR ABRAMOWITZ�
DISTRICT 1: C/M ROHR �' `•''
DISTRICT 2: V/M STELZER_
DISTRICT 3: C/M HOFFMAN r' C'_--
DISTRICT 4- _ C/M BLN,DER GSM