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HomeMy WebLinkAboutCity of Tamarac Resolution R-2003-001Temp. Reso. #9975 November 5, 2002 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2003-_al A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC IMPROVEMENT WARRANTY BOND IN THE FORM OF AN IRREVOCABLE STANDBY LETTER OF CREDIT NO. 277 FROM HARBOR FEDERAL IN THE AMOUNT OF $7,406.62 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY WYNNE BUILDING CORPORATION FOR THE HAMPTON INN PROJECT LOCATED AT 4499 WEST COMMERCIAL BOULEVARD; AUTHORIZING THE CITY CLERK TO RELEASE IRREVOCABLE STANDBY LETTER OF CREDIT NO. 277; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Wynne Building Corporation has constructed the Hampton Inn Project and installed the Water Distribution and Sewage Collection System Improvements in accordance with the Site Plan approved by City Commission on October 13, 1999; and WHEREAS, the terms of Section 10-156 of the City Code requires Wynne Building Corporation to provide a one-year Warranty Bond to the City of Tamarac for the Hampton Inn Project Water Distribution and Sewage Collection System Improvements located at 4499 West Commercial Boulevard (a copy of which is attached hereto in map form as "Exhibit 1 "); and WHEREAS, Wynne Building Corporation has requested the release of a Public Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit No. 277 from Harbor Federal in the amount of $7,406.62 (a copy of which is attached hereto as "Exhibit 2") for the Water Distribution and Sewage Collection System Improvements Temp. Reso. #9975 November 5, 2002 2 installed for the Hampton Inn Project; and WHEREAS, the improvements were inspected, approved and are recommended for acceptance for City ownership by the Utilities Engineering Division; and WHEREAS, it is the recommendation of the Director of Utilities that the Public Improvement Warranty Bond be released for the Hampton Inn Project Water Distribution and Sewage Collection System Improvements; 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 Public Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit No. 277 from Harbor Federal in the amount of $7,406.62 for the Hampton Inn Project Water Distribution and Sewage Collection System Improvements. 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. G 1 1 Temp. Reso. #9975 November 5, 2002 3 SECTION 2: The appropriate City Officials are hereby authorized to release the one-year Public Improvement Warranty Bond for the Water Distribution and Sewage Collection System Improvements in the form of an Irrevocable Standby Letter of Credit No. 277 from Harbor Federal in the amount of $7,406.62 for the Water Distribution and Sewage Collection System Improvements installed by Wynne Building Corporation for the Hampton Inn Project located at 4499 West Commercial Boulevard in accordance with Section 10-156 of the City Code. SECTION 3: The City Clerk is hereby authorized and directed to release to the Utilities Department for return to Wynne Building Corporation the Public Improvement Warranty Bond for the Hampton Inn Project. The bond is in the form of an Irrevocable Standby Letter of Credit No. 277 in the amount of $7,406.62 for the Water Distribution and Sewage Collection System Improvements located at 4499 West Commercial Boulevard. SECTION 4: All resolutions or parts of resolutions in conflict herewith are hereby repealed to the extent of such conflict. SECTION 5: 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. Temp. Reso. #9975 November 5, 2002 4 SECTION 6: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 8th day of January, 2003. JOE SCHREIBER ATTEST: MAYOR MARION S ENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. JED/DM/mg RECORD OF COMMISSION MAYOR SCHREIBER DIST 1: V/M. PORTNER---.j DIST 2: COMM. MISHKIN DIST 3: COMM. SULTANOF DIST 4: COMM. ROBERTS TE: 1 E EXHIBIT I TEMP. RESO. # 9975 W c W W, W AL W I Wlll4e W W W W W W 1 W W W SA AL PALM, .b W GOLF COURSE* W W W\ W W W 1\ �� SEVEN W WINDS <1 W LAKESIDE Y J as J J ASTORIA ISLAND DINER CLUB. 53 S. U W a a a �y n �P 79 ,Q- T O . I- !?j DR 8ES 4T 47 CT a b 47 ST e' H Q z SITE v� LOCATION j GRANTS F9 �p " SE 5A 9< \ (SUNSHINE PLAZA) TAMARAC ANIMAL HOSP, l< CORAL 49 CT L�� GABLES I w MIDAS czc NATIONS �. BANK y MOBILE BANKOc w d //� � w AMOCO L1 y r BUNNING :T ¢ w a j ,`k. Q / J© A BUD'S Wy FLORIST a oil in v M M cu aZ z a , DUNKIN' w¢ w ~ -) LD F- rr v q� % DONUT CD In �48 49 ST r3 a2 PLAZA GINA'S 49 ST CT 8 a DR �P1N� 48 S Q /¢ �PZNLAND a a 47 CT IHOP 47 CT m 47 ST M 47 ST % �a 1 .., d-j cL 46 ST W 46 ST 45 CT 3 ~ 45 CT Q ti0 j %u to W W i W W W W W W W W SEC 4A W + W W SEC 3 d, W W W W W W W W }� 45 ST ~ 44 ST gr v HAMP_INN,DWG HAMPTON INN HOTEL WARRANTY BOND RELEASE Exhibit "I" Harbor P_S�_ r Fedeml Beneficiary: City of Tamarac 7525 NW 8e Avenue Tamarac, FL 33321 March 13, 2001 Main Office 100 South Second Street Fort Pierce, Florida 34950 Telephone: (561) 461-2414 Applicant: Wynne Building Corporation 8000 South US Hwy 1, Suite 402 Port St. Lucie, FL 34952 Irrevocable Standby Letter of Credit No. 277 Amount of USD: $7,406.62 Date of Expiry: March 13, 2002 Place of Expiry: At Our Counters Gentlemen: By order of our client, Wynne Building Corporation, 8000 South US Hwy 1, Suite 402, Port St. Lucie, FL 34952, we hereby open our Irrevocable Letter of Credit Number 277 in your favor for an amount not to exceed in the aggregate U.S. Dollars USD $7,406.62 (Seven Thousand Four Hundred Six and 62/100 U.S. Dollars) effective immediately and expiring as stated herein at our Harbor Federal Savings Bank, 100 South Second Street, Fort Pierce, FL 34950. Without obligation on our part, we are advised that this Irrevocable Letter of Credit is to ensure the correction of all insufficiencies in design, workmanship and/or materials which are found within one (1) year of the date of the formal acceptance of the sub- division improvements of the City of Tamarac for the Hampton Inn and Wynne Building Corporation's obligation to comply with requirement of Tamarac City Code Section 10- 156. The City is authorized to drawn drafts at sight accompanied by a signed statement from the City of Tamarac or its authorized representative that: "the undersigned, an authorized representative of the City of Tamarac, hereby certifies that: (A) The drawing is due to Wynne Building Corporation's failure to correct all insufficiencies in design, workmanship and/or materials which are found within one (1) year of the date of the formal acceptance of the subdivision improvements by the City Commission of the City of Tamarac, or (B) That Wynne Building Corporation's obligations have not been completed, or the City of Tamarac has been notified that the Letter of Credit will not be extended. � piM DR6�lf w Irrevocable Letter of Credit No. 277 March 13, 2001 The original Letter of Credit must be presented with any drawing hereunder. This Letter of Credit shall be automatically renewed, without amendment. For successive periods of one(1) year each, unless we provide written notice to the City Clerk via registered mail, or special courier, that we elect not to renew the credit for an additional period, which notice must be provided at least sixty (60) days prior to the expiration date of the original term hereof or any renewed one (1) year term, or unless the City of Tamarac returns the original Letter of Credit together with written notification that it may be terminated prior to the then current expiration date. We engage with you that each draft drawn under and in strict compliance with the terms and conditions of this Letter of Credit will be duly honored is presented at this office on or before the expiration date of this Letter of Credit or an extended date as provided for herein. All drafts drawn under the Credit must be marked: "Drawn under Harbor Federal Savings Bank Letter of Credit Number 277". Unless expressly stated otherwise, this Letter of Credit is subject to the Uniform Customs and Practice (1993 Revision) International Chamber of Commerce Publication Number 500, or any revision superceding Publication Number 500. Harbor Federal Savings Bank Tina M. DeRocher Assistant Vice President Commercial Closing Manager