HomeMy WebLinkAboutCity of Tamarac Resolution R-86-259Introduced by: Temp. Reso. #4219
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-86- Z
A RESOLUTION RELEASING A PERFORMANCE BOND POSTED
FOR PUBLIC IMPROVEMENTS BY SABAL PALM ASSOCIATES
FOR SABAL PALM TOWNHOUSES AND PROVIDING AN EFFEC-
T Ty,B DATE.
WHEREAS, Sabal Palm Associates, as Principal, and Freedom
Savings and Loan Association, as Surety, has filed with the City
Letter of Credit No. 1139 in the amount of $70,237.00 to guaran-
tee public improvements at Sabal Palm Townhouses.
WHEREAS, the City Engineering Department has found that the
work has been satisfactorily completed and has recommended
release of said bond upon receipt of a one-year warranty bond in
the amount of $1.3,625.38 and a performance bond for public
improvements along the Bailey Road area in the amount of
$21,236.94.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
,E.9I,ON 1: That the Letter of Credit No. 1139 posted by
Sabal Palm Associates, as Principal and Freedom Savings and Loan
Association
as Surety, in the amount of $70,237.00 for public improvements at
Sable Palm Townhouses is HEREBY RELEASED, subject to receipt of a
one-year warranty bond in the amount of $13,625.38 and a perform-
ance bond for public improvements along Bailey Road in the amount
of $21,236.94.
SECTION 2: This Resolution shall become effective imme-
diately upon adoption.
PASSED, ADOPTED AND APPROVED this y Of , 1986.
.vailv.,
ATTEST: tERNARD HART, OR
)Ag��
MARILY . 'BE THOLF, C Y CLERK RECORD OF CtOLWIL VOTE
MAYOR: HART
I HEREBY CERTIFY that I have
approved the form and correct- DIST. 1: C/W MASSARO
ness of this RESOLUTION. DIST. 2: C/M STEIZER
DIST. 3: C/M GOTTESMAN
A A EGA E, CITY ATTORNEY DIST. 4: V/X' THIN