The URL can be used to link to this page

Home My WebLink AboutCity of Tamarac Resolution (133)1 1 1 Temp. Reso.#9767 April 22, 2002 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2002-133 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC IMPROVEMENT PERFORMANCE BOND IN THE FORM OF AN IRREVOCABLE LETTER OF CREDIT #98-106 IN THE AMOUNT OF $33,575.00 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY BRISTOL PARK OF TAMARAC, LIMITED FOR THE BRISTOL PARK OF TAMARAC PROJECT LOCATED AT 6855 NW 70T" AVENUE; AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO WAIVE THE REQUIREMENT FOR THE RECEIPT OF A ONE YEAR WARRANTY BOND; AUTHORIZING THE CITY CLERK TO RELEASE IRREVOCABLE LETTER OF CREDIT #98-106; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Bristol Park of Tamarac, Limited has completed the construction of the Water Distribution and Sewage Collection System Improvements for the Bristol Park of Tamarac Project located at 6855 NW 70t" Avenue (attached hereto in map form as "Exhibit 1 "); and WHEREAS, the terms of section 10-156 of the City Code requires Bristol Park of Tamarac, Limited to provide a Public Improvement Performance Bond to the City of Tamarac (a copy of which is attached hereto as "Exhibit 2") for the Bristol Park of Tamarac Project Water Distribution and Sewage Collection System Improvements; and Temp. Reso.#9767 April 22, 2002 2 WHEREAS, Section 10-156 required that a one year Warrianty Bond be issued upon release of the Public Improvement Performance Bond; and and WHEREAS, the one year Warranty Bond for this Project would be $10,790.06; WHEREAS, Bristol Park of Tamarac, Limited has requested the release of the Public Improvement Performance Bond in the form of an Irrevocable Letter of Credit #98-106 in the amount of $33,575.00; and WHEREAS, the Water Distribution and Sewage Collection System Improvements have been inspected, approved and already placed into service by the Utilities Engineering Division; and WHEREAS, the Water Distribution and Sewage Collection System Improvements have been in service for over one year, the Utilities Department is requesting the requirement for the receipt of a one year warranty bond in the amount of $10,790.06 required by City Code Section 10-156 and the Water and Sewer Developer's Agreement be waived; and WHEREAS, it is the recommendation of the Director of Utilities that the Public Improvement Performance Bond be released for the Bristol Park of Tamarac Project Water Distribution and Sewage Collection System Improvements and the one year Warranty Bond requirement be waived; 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 Temp. Reso.#9767 April 22, 2002 3 Public Improvement Performance Bond from Bristol Park of Tamarac, Limited for the Bristol Park of Tamarac Project Water Distribution and Sewage Collection System Improvements and to waive the requirement for the receipt of a one-year Warranty Bond. 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 amount of $33,575.00 for the Water Distribution and Sewage Collection System Improvements for the Bristol Park of Tamarac Project. SECTION 3: The requirements for receipt of a one-year warranty bond for v the Water Distribution and Sewage Collection System Improvements is hereby waived. SECTION 4: That City Clerk is hereby authorized and directed to release to the Utilities Department for return to Bristol Park of Tamarac, Limited the Public Improvement Performance Bond for the Bristol Park of Tamarac Project. The bond is in the form of an Irrevocable Letter of Credit #98-106 in the amount of $33,575.00 for the Water Distribution and Sewage Collection System Improvements located at 6855 NW 70tn Avenue. 1 Temp. Reso.#9767 April 22, 2002 4 SECTION 5: All resolutions or parts of resolutions irk conflict herewith are i hereby repealed to the extent of such conflict. SECTION 6: 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. SECTION 7: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED, AND APPROVED this 22Id day of May, 2002. ATTEST: — 7' MARION SWENSON, CMC CITY CLERK I HEREBY CERTIFY that I have apXroyid this RESOJWTION as t tAITCHELL S: KRAF CITY ATTORNEY J ED/DiM/db I owl N-qf RECORD OF COMMISSION VOTE: MAYOR SCHREIBER A DIST 1: V/M. PORTNER_ yg: DIST 2: COMM. MISHKIN_Ay& DIST 3: COMM. SULTANOF_Ayev DIST 4: COMM. ROBERTS A e, Ll 1 1 EXHIBIT 1 TEMP. RESQ. # 9767 �%, oa GREENBRIAR a W ¢ 75 ST a 75 9 i0 n n w n 74 PL n o n 74 PL / PICCADILLY 73 ST 72 ST 72 ST 72 ST Q - 72 ST 7 6 S %� > > a M o Q ^ a 71CT 0 j� 71ST w b 71CT W❑❑DM❑NT SQUARE J� / % n Cu 70 CT g 71 ST 70 ST MA LANDS 14 a W g� BR ❑� RCREST 14 70 CT BANK T G DENSE 3 % BOO �// / y n 70 ST .n NATI❑NS BANK N. 1MER. ALBERTSON SHELL 1 0 LAKED COLD NY (69STJ UNITED METH❑DIST > z z a W w o (z o z ti w< Z n �� 4z PW a o H U. w z a Z o o %j, BR❑❑KSIDE COVE / MCNAB READ GW BANK TEXACO TAMARAC x ww„ z BR❑❑KWOOD CASABLANCA as w Qa PLAZA > % CENTER > r a / WOODLANDS W UNIVERSITY pq 68 ST n j SCHOOL COMMONS a W y M D > > 6 67 ST /. %' SITE W BELLE TERRE o 7d 66 n ST d /% LOCATION W OF > a U y TAMARAC n MAINL NDS S w Lo i Q 65 ST W J , UNIV, 64 CT W 7 SHOPPES g y 64 ST O CS, y / 64 ST y EGAN q PLAT > u z a 63 CT 63 % o z v a > n a > ¢ a %/ n Cu CT L7 n W 63 ST 63 ST ILLAGE QUARE > SAINT 62 ST 62 STw %// 62 ST y W Z MALACHY w> > > a a a a %� a Co %/ 61 ST 3 iLo JOHN 3 61 ST H❑RAN TER. a ch n a n a r• n % `C� 0 �� ' �� , , w a ~ CURTIS n N ANDS SE 10 60 CT ��A%/ %/ FIELD NATI❑NS %/ ' %% %%!o �L j n PLAT BANK 60 ST 7 Q .+ % 60 ST 59 ST S 59 ST %/ 59 59 ST % j j/ % / / Bristol Park of Tamarac BRISTOL PARK OF TAMARAC PERFORMANCE BOND RELEASE Exhibit 2 COLONIAL BANK June 18, 1998 City of Tamarac, Utility Director 7525 NW 88th Avenue Tamarac, FL 33321 Gentlemen: RE: IRREVOCABLE LETMR OF CREDIT #98-106 By order of our client, BRISTOL PARK OF TAAMRAC, LIMITED, 1601 FORUM PLACE, SUITE 805, WEST PALM BEACH, FL 33401, we hereby open our clean IRREVOCABLE LETTER OF CREDIT #98-106 in your favor for an amount not to exceed in the aggregate US $33,575.00 (THIRTY THREE THOUSAND FIVE HUNDRED SEVENTY FIVE & N0/100), effective immediately and expiring at our office at 2000 Palm Beach Lake Boulevard, West Palm Beach, Florida, with our close of business on DUNE 18, 1999. A. We are advised that this Irrevocable Letter of Credit is to insure installation of public improvements indicated on the certified cost estimate dated December 17, 1997, and on plans prepared by Rhon Ernest -Jones Consulting Engineers and approved by the Utility Engineer for BRISTOL PARK OF TAMARACASSISTED LIVING, water distribution installation and developer's obligation to comply with the requirements of Tamarac City Code, Section 10-156. B. The City is authorized to draw drafts at sight accompanied by a signed statement from the City of Tamarac or its authorized representatives that: C. (a) The drawing is due to Bristol Park's failure to construct the public improvements. D. (b) That the developer's obligations have not been completed, and the City of Tamarac has been notified that the bond will not be extended, or, E. (c) That a warranty bond that is required by Tamarac City Code has not been provided. :1n Affiliate of Colonial BancGroup, Inc. 2000 Palm Beach Lakes Boulevard, West Pa]m Befleh. Florida 33409 P.O. Box 3305. Rest Palrn Mich, Rod& 33.102-3305 Telephone 561/683-1600 / Fax 561/683-453? �+��i•.colonifllhflnl{.con, AN EQUAL OPPORTUNITY EMPLOYER Is r City of Tamarac, Utility Director June 18, 1998 Page 2 F. 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 of our intent not to renew 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 notification that it may be terminated. We engage with you that each draft drawn under and in compliance with the terms of this credit will be duly honored on delivery of the documents as specified if presented at our office located at 2000 Palm Beach Lakes Boulevard, West Palm Beach, Florida. Except as far as otherwise expressly stated herein, this Letter of Credit is subject to the Uniform Customs and practice for Documentary Credits (1983 Revision) International Chamber of Commerce Publication No. 400. Very truly yours, In _— bald F.�rtens I" - Senior Vice President mcm