HomeMy WebLinkAboutCity of Tamarac Resolution R-82-008Introduced by w
Temp #2134
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-gal-F
A RESOLUTION RELEASING A PERFORMANCE BOND
POSTED FOR PUBLIC IMPROVEMENTS AT WOODMONT
TRACT 47 PROJECT; AND PROVIDING AN EFFEC-
TIVE DATE.
WHEREAS, Montwood, Inc., as Principal, and The First National
Bank of Chicago, as Surety, has filed with the City an Irrevocable
Letter of Credit No. 1405-00300425 in the amount of $316,743.20 to
guarantee public improvements at Woodmont Tract 47 Project; and
WHEREAS, the City Engineer has found that the work has been.
satisfactorily completed and has recommended release of said IrrevocablE
Letter of Credit upon receipt of a one-year warranty bond in the amount
of $80,036.81.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC,
FLORIDA:
SECTION 1: That the Irrevocable Letter of Credit No.
1405-00300425 posted by Montwood, Inc., as Principal, and The First
National Bank of Chicago, as Surety, in the amount of $316,743.20, for
i public improvements at Woodmont Tract 47 Project, is HEREBY RELEASED,
subject to receipt of a one-year warranty bond in the amount of
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$80,036.81.
SECTION 2: This Resolution shall become effective upon adoption.
PASSED, ADOPTED AND APPROVED thisa ;Obday of 1982.
ATTEST:
I
ASSISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved the form and correct-
nessof this
this Res
o ution
fil+).
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C-ITY ATTORNEY
MAYOR:
DISTRICT
DISTRICT
DISTRICT
DISTRICT