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HomeMy WebLinkAboutCity of Tamarac Resolution R-2003-007Temp. Reso. #10005 December 9, 2002 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2003- © 7 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. S002240 FROM SUNTRUST BANK IN THE AMOUNT OF $46,412.75 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY LENNAR LAND PARTNERS FOR THE SOUTHAMPTON PHASES A-D, I-J AND RECREATIONAL CENTER PROJECT LOCATED ON THE WEST SIDE OF NOB HILL ROAD BETWEEN NW 71IT PLACE AND NW 80TI STREET; AUTHORIZING THE CITY CLERK TO RELEASE IRREVOCABLE STANDBY LETTER OF CREDIT NO. S002240; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar Land Partners has constructed the Southampton Phases A-D, I- J and Recreational Center Project and installed the Water Distribution and Sewage Collection System Improvements in accordance with the Site Plan approved by the City Commission on December 11, 1996; and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac, requires Lennar Land Partners to provide a one-year Warranty Bond to the City of Tamarac for the Southampton Phases A-D, I-J and Recreational Center Project Water Distribution and Sewage Collection System Improvements located on the west side of Nob Hill Road between NW 715t Place and NW 801" Street (a copy of which is attached hereto in map form as "Exhibit 1 "); and Temp. Reso. #10005 December 9, 2002 2 WHEREAS, Lennar Land Partners has requested the release of a Public Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit No. S002240 from SunTrust Bank in the amount of $46,412.75 (a copy of which is attached hereto as "Exhibit 2") for the Water Distribution and Sewage Collection System Improvements installed for the Southampton Phases A-D, I-J and Recreational Center 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 Southampton Phases A-D, I-J and Recreational Center 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. S002240 from Lennar Land Partners in the amount of $46,412.75 for the Southampton Phases A-D, I-J and Recreational Center 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. 1 1 1 Temp. Reso. #10005 December 9, 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. S002240 from Lennar Land Partners in the amount of $46,412.75 for the Water Distribution and Sewage Collection System Improvements installed by Lennar Land Partners for the Southampton Phases A-D, I-J and Recreational Center Project located on the west side of Nob Hill Road between NW 715t Place and NW 80t" Street 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 Lennar Land Partners the Public Improvement Warranty Bond for the Southampton Phases A-D, I-J and Recreation Center Project. The bond is in the form of an Irrevocable Standby Letter of Credit No. S002240 in the amount of $46,412.75 for the Water Distribution and Sewage Collection System Improvements located on the west side of Nab Hill Road between NW 715t Place and NW 80th Street. 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. #10005 December 9, 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. 11-'��.. MARION WENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. JED/DM/mg UPIP, Ar W:, _ • MAYOR RECORD OF COMMISSION MAYOR SCHREIBER DIST 1: V/M. PORTNER-4 DIST 2: COMM. MISHKIN DIST 3: COMM. SULTANOF DIST 4: COMM. ROBERTS TE: 1 1 1 EXHIBIT 1 w of z C14/CYPRESS CREEK CANAL S❑UTHGATE BLVD, 83 ST 7 83 ST 7 w O a 7 ¢ cm4 82 ST o ai sr r o r' a P r- 7d r WE 'TWO D 6 ai ST � 2 �pti c, o v 80 CT SE ION 'P 0ti � 90 dR � 80 ST 9p I` pp � J' cT �O tee LOMBARDY EXETER TRENT� COMER PK. E /� of rGRANVILLE CO SPORT T/R2/ 7 r /J z f EVANGELICAL 77 ST l a w COVENANT Ifx CHURCH A , p Z Z C] 7 w 7 '/� i;` KINGS PT. w A � F-4 PROF. PLAZA KINGS POINT f % s�,+ SALES CENTER FAIRFAX " i & CLUB H❑US S_HAMPTON.DWG SOUTHAMPTON — PHASE A—D, I, J, & RECREATION CENTER WARRANTY BOND RELEASE U-ct 04 02 11:14a Office of City Clerk Exhibit "2" SuNTRUST (954) 724-1212 IRREVOCABLE STANDBY LETTER OFRUST CREDIT NO. S002240 APRIL 19, 2000 BENEFICIARY: CITY OF TAMARAC 752-5 N.W. 88TH AVE'. TAMARAC, FL. 33321 APPLICANT: LENNAR LAND PARTNERS 8190 STATE ROAD 84 DAVIE, FL. 33324 AMOUNT: USD 46,412.75 DATE OF EXPIRY : APRIL 19, 2601 PLACE OF EXPIRY: AT OUR COUNTERS BY ORDER OF OUR CLIENT, LENNAR LAND PARTNERS, 8190 STATE ROAD 84, DAVIE, FL 33324, WE HEREBY OPEN OUR IRREVOCABLE LETTER OF CREDIT. NUMBER S.002240 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN THE AGGREGATE U.S. DOLLARS USD46,412.75 (FORTY SIX THOUSAND FOUR HUNDRED. TWELVE AND 75/100 U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING AS STATED HEREIN AT OUR SUNTRUST BANK, 3737 NW 87TH.."AVRNUE, MIAMI, FLORIDA 33178 OFFICE. 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'41) YEAR OF THE DATE OF THE FORMAL ACCEPTANCE OF THE SUB -DIVISION IMPROVEMENTS OF THE CITY OF TAMARAC FOR THE INSTALLATION OF PUBLIC IMPROVEMENTS INDICATED ON CERTIFIED COST ESTIMATE AND APPROVED BY THE UTILITY ENGINEER FOR W CONSTRUCTION FOR SOUTHAMPTON PHASES A-D, I-,7 C_^A ``� SEWER DEVELOP.Am E,R',, OBLSGATT0N-- T`75..�OMPLY" GiITH THE EQUIR MEPrC1 Y -. OF"�'�AMARAC C°�1' CrbDE SECTION 10-156. THE CITY IS AUTHORIZED'TO DRAW 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 LENNAR LAND PARTNERS' 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 PUBLIC IMPROVEMENTS BY THE CITY COMMISSION OF THE CITY OF TAMARAC, OR (B) THAT -THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED, OR THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE EXTENDED,. OR All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W. 87th Avenue, ist:.Fbor, Miami, -Florida 33178 Swift: SNTRU83M Telex: 542210 31167743/W) P.2 42,6 -t� Fy O.ct 04 02 11: 14a Office of City Clerk (954) 724-1212 P.3 SUNTRUST, IRREVOCALBLE LETTER OF CREDIT NO. 9002240 (C) THAT THE CITY OF TAMARAC HAS BEEN NOTIFIED THAT THE WILL NOT BE EXTENDED." BOND THE,0RIGINAL LETTER OF CREDIT MUST BE PRESENTED WITH ANY DRAWING HEREUNDER. THIS LETTER OF CREDIT SHALL BE AUTOMATICALLY RENEWED, WITi 9UT AMENDMENT, FOR SUCCESSIVE PERIODS OF ONE (1) YEAR EACH, UNLESS WE PROVIDE WRITTEN NOTICE TO THE CITY CLERK VIA R GISTER.ED. MAIL, OR SPECIAL, COURIER .THAT WE ELECT NOT TO RENEW T E''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 qqF TAMARAC RETURNS THE ORIGINAL LETTER OF CREDIT TOGETHER WITH WRITTEN NOTIFICATION THAT IT MAY BE TERMINATED PRIOR, TO THE THEN CURRENT EXPIRATION DATE. igTE.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 IF PRESENTED AT THIS OFFICE ON OR BEFORE THE EXPIRATION DATE OF THIS LETTER OF CREDIT OR ANY EXTENDED DATE AS PROVIDED -FOR HEREIN. ALL DRAFT(S)_ DRAWN UNDER THIS CREDIT MUST BE MARKED: "DRAWN UNDER SUNTRUST,MIAMI,N.A., LETTER OF CREDIT NUMBER S002240." 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 REV18ION SUPERCEDING-PUBLICATION NUMBER 500. ZED. I A E SUNT'RUST BANK, MIAMI, N.A. 307 All correspondence and communication should be directed to our agent SunTru3t International Services, Inc., 3737 N.W. 87th Avenue, ist Floor, Miarnl; Florida 33178, Swift: SNTRUSSM Telex: 542210 311$77 (3100) .