HomeMy WebLinkAboutCity of Tamarac Resolution (62)March 13, 2002 - Temp. Reso. #9047
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2002-062
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE PUBLIC
IMPROVEMENT PERFORMANCE BOND, LETTER OF
CREDIT #P600270 FROM SUN TRUST BANK, IN THE
AMOUNT OF $563,904.85 POSTED BY PULTE HOMES, INC.
FOR PAVING, DRAINAGE, SIDEWALKS, CURBS AND
GUTTER IMPROVEMENTS FOR THE PLUM BAY/PLUM
HARBOR PHASE I PROJECT LOCATED ON THE
NORTHEAST CORNER OF COMMERCIAL BOULEVARD
AND NOB HILL ROAD; PROVIDING FOR CONFLICTS;
PROVIDING FOR SEVERABILITY; AND PROVIDING FOR
AN EFFECTIVE DATE.
WHEREAS, Pulte Homes, Inc. with SunTrust Bank as Surety, has filed with the City
of Tamarac a Public Improvement Performance Bond, Letter of Credit # P600270 in the
amount of $563,904.85 to guarantee construction of paving, drainage, sidewalks, curbs
and gutter improvements located within the Plum Bay/Plum Harbor Phase I project; and
WHEREAS, the paving, drainage, sidewalks, curbs and gutter improvements have
been inspected and found acceptable by the Public Works Engineering Division; and
WHEREAS, pursuant to City Code Section 10-156, this Public Improvement
Performance Bond, Letter of Credit #P600270, has remained in place for the required one
(1) year period in lieu of the warranty bond, and it has been held as guarantee of
performance and as warranty; and
WHEREAS, it is the recommendation of the Public Works Director and the Assistant
City Engineer that the Public Improvement Performance Bond be released; and
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March 13, 2002 - Temp. Reso. #9047
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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 Performance Bond, Letter of Credit #P600270, in the amount of
$563,904.85, posted for the paving, drainage, sidewalk, curb, and gutter improvements
located within the Plum Bay/Plum Harbor Phase I project, located on the northeast corner
of Commercial Boulevard and Nob Hill Road.
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.
Section 2: The appropriate City Officials are hereby authorized to release the
Public Improvement Performance Bond, in the form of Letter of Credit #P600270, from Sun
Trust Bank, in the amount of $563,904.85 posted for the paving, drainage, sidewalk, curb,
and gutter improvements located within the Plum Bay/Plum Harbor Phase I project, located
on the northeast corner of Commercial Boulevard and Nob Hill Road. A copy of the Letter
of Credit is attached hereto as "Exhibit A".
Section 3: That all Resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
Section 4: 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.
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March 13, 2002 - Temp. Reso. #9047
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Section 5: This Resolution shall become effective immediately upon its passage
and adoption.
PASSED, ADOPTED, AND APPROVED this 13th day of March, 2002.
ATTEST:
j
MARION S ENSON, CMC
CITY CLERK
I HEREBY CERTIFY that I
have approved this
REUdTION as to form.
i' ITCHELL S.
CITY ATTORN
A
JOE SCHREIBER
MAYOR
RECORD OF COMMISSION VOTE:
MAYOR SCHREIBER Aye,
DIST 1: COMM. PORTNER &yg
DIST 2: COMM. MISHKIN A ei
DIST 3: V/M SULTANOF Ave.,
DIST 4: COMM. ROBERTS A e.,
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EXHIBIT "A"
Temp. Reso. #9047
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I FOR APPROVAL ONLY - PERFORMANCE BOND I
ITEM TITLE: PLUM BAY / PLUM HARBOR - PHASE I
To accept a Performance Bond in the amount of $563,904.85, for public
improvement (paving drainage sidewalks, curbs and gutters) This is a
replacement Bond in order to separate water distribution and sewage collection.
The initiating Department Head is to mark an "X" between the parentheses "( )" below
for each department that must initial their approval in order for this bond to be accepted.
c-)
(2) City Attorney
O City Manager
r--
y- M
O Building Department
'
(3) City Clerk
() Community Development
O Finance
() Fire Department
Q(S Personnel/Insurance
Broward Sheriffs Office
(1) Public Works/ Engineering
( ) Purchasing
Initialing Department Head Signature_
Date
This form is to be completed PRIOR to all backup forwarded to the City Clerk for
acceptance.
GES/vgh
File:perf.bond
plumbay.bnd
EXHIBIT "A"
Temp. Reso. #9047
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LETTER OF CREDIT NUMBER
ISSUANCE DATE: NOVEMBE�II
ADVISING BANK: APPLICANT:
PULTE HOME CORPORATION
1350 E. NEW PORT CENTER DRIVE
STE. 200
DEERFIELD BEACH, FL 33442
BENEFICIARY:
6ITY OF TAMARAC
811 N.W. 88TH AVENUE
TAMARAC, FL 33321
FOR US
(FIVE REE THOUSAND NINE HUNDRED FOUR 85/100 USD)
DATE OF EXPIRATION:
PLACE F EXPIRATION:
T NO`.
D
T SIGHT
IT AND
BENEFICIARY'S DATED CERTIFICATE PURPORTFFOLY SIGNED BY ONE
OF ITS OFFICIALS STATING• "PULTE HOME RPORATION HAS
FAILED TQ COMPLETE PAVING AND DRAINAGE FOR THE SUBDIVISION
PLUM BAY/PLUM HARBOR PHASE I.r'
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL
BE DEEMED AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE
AETARErFROM U$THE
SIXTY60�NDAYSEPgHZOROTb OR
EXPIR.AITTIRONEDATREAWEON
SEND NOTI E TO YOU Y EGISTERED MAIL THAT WE ELECT NOT TO
CONSIPERIODER THIS LETTER OF CREDIT RENEWED FOR ANY SUCH ADDITIONAL,
ALL DRAFTS MUST REFERENCE THE NUMBER AND ISSUE DATE OF THIS
CREDIT.
AND PRACTICE
RR CREDIT RM CUSTOMS
INTERNATIONAL CHAMBER COMMERCE PUBLICATION 500.
*****CONTINUED
NUMBER 60 TUMMBEOP0027PAGE
LETTER OFCREDITPAGE NO. 1
All correspondence and communication should be directed to our agent SunTrust international Services. Inc., 25 Park Place,
Atlanta. Georaia30303 Telex: 5422 W
EXHIBIT "A"
Temp. Reso. #9047
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SUNT)RUST
WE HEREBY AGREE WITH YOU THAT ALL DRAFTS DRAWN IN
COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY
HONORED UPON PRESENTATION AND DELIVERY OF THE DOCUMENTS
SPECIFIED ABOVE TO SUNTRUST BANK ATLANTA 25 PARK PLACE 1bTH
FLOOR LETTER OF CREDIT DEPT. — �706 ATTA GEORGIA 36303 OR
SUNTRfJST BANK SOUTH FLORIDA, N.A. t01 E. LAB OLAS BLVD.
ORTBEFORE NOVEMBERE8, 1997T, ORTANY�EXTEENDED,DATERIDA 33301, ON
SINCERELY,
FORMERLY KNOWNASTTCC PANY B K /
,.'
PAGE �` � 1 (G/*c��
All correspondence and communication should be directed to our agent SunTrust international Services, Inc., 25 Park Place,
Atlanta, Georqia 30303 Telex: 542210