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Home My WebLink AboutCity of Tamarac Resolution R-2001-179Temp. Reso. #9418 June 7, 2001 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2001-179 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 STANDBY LETTER OF CREDIT L986370 FROM UNION PLANTERS BANK, IN THE AMOUNT OF $17,367.00 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY PARKWOOD AT COLONY WEST, INC., FOR THE PARKWOOD AT COLONY WEST PROJECT LOCATED ON LAGOS DE CAMPO BOULEVARD AND NW 61ST STREET; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Parkwood at Colony West, Inc., has constructed the Parkwood at Colony West Project and installed the Water Distribution and Sewage Collection System improvements in accordance with the Site Plan approved by the City Commission on July 22, 1998; and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac on November 10, 1998, requires Parkwood at Colony West, Inc., to provide a one-year Warranty Bond to the City of Tamarac for the Parkwood at Colony West Project Water Distribution and Sewage Collection System improvements located on Lagos de Campo Boulevard and NW 61" Street (a copy of which is attached hereto in map form as "Exhibit 1 "); and Temp. Reso. #9418 June 7, 2001 2 WHEREAS, Parkwood at Colony West, Inc., has requested the release of a Public Improvement Warranty Bond in the form of Standby Letter of Credit L986370 from Union Planters Bank, in the amount of $17,367.00 (a copy of which is attached hereto as "Exhibit 2") for the Water Distribution and Sewage Collection System improvements installed for the Parkwood at Colony West 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 Parkwood at Colony West 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 Standby Letter of Credit L986370 from Union Planters Bank, in the amount of $17,367.00 for the Parkwood at Colony West Project Water Distribution and Sewage Collection System improvements. I L Temp. Reso. #9418 June 7, 2001 3 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 one-year Public Improvement Warranty Bond for the Water Distribution and Sewage Collection System improvements in the form of Standby Letter of Credit L986370 in the amount of $17,367.00 for the Water Distribution and Sewage Collection System improvements installed by Parkwood at Colony West, Inc., for the Parkwood at Colony West Project located on Lagos de Campo Boulevard and NW 61 " Street in accordance with Section 10-156 of the City Code. SECTION 3: 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 Iapplications of this Resolution. Temp. Reso. #9418 June 7, 2001 4 SECTION 5: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 111' day of July, 2001. ATTEST:. MARION �§WENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. CITY ATTOR TR/DM/db JOE SCHREIBEk MAYOR RECORD OF COMMISSION VOTE: MAYOR SCHREIBER A -ye, DIST 1: COMM. PORTNER AM DIST 2: COMM. MISHKIN AXe,, DIST 3: V/M SULTANOF---- Ay!L/ DIST 4: COMM. ROBERTS A-Xel I I I — 9 EXHIBIT 1 TEMP. RESO. # 9418 w *70 ST 70 CT W 0 Ld 4z Li > Lao w <c C3 z Lp La C4 y- 4 a- m li Z La Z 0 m a z o > It > F- Z 'r -c w WOODMONT WOODMONT 0 im OD _j Z -i j2 —i < M z < >z c� PLAZA C3 MC X 0 w r3a m F- Li W z m La" COMMONS co C'z Lsj X: < L L.3L L' u u U V) 0 Lki 3L� w w McNAB ROAD * CONCORD VILLAGE �VboiiLAN*b LAKEf WOOOLAN w w w w -V LA * * TS. * w * w COL. W. SANDS POIN CA CLUB LAND N SEC. 9 it HOUSE Ny LC 44 GARDENS RAL LMSw w * w C OLF w w w LLAS w w w w w ROKES �j S, COLONY CIR. w APTS, 'Ds ? s L w w w WEDGES SITE w GOLF COURSE, LOC FAIRVIEW DR. unADn%JAI V APT4Z Ld I-- FAIRWAYS 61 ST qT BOARDWALK APTS. OD 61 ST CT 59 PL 59 PL Ljj <F- > SITLF <r 59 CT > 59 CT > > 61 S T <E (EDGE TER) C� > w <1 OD > MAINLAND m 59 ST OD S 59 ST cv) OD UNIT 13 0— ------------- -- 14 co OD r- r- WATERSIDE 60 ST PL Li > ce MAI L N D S,�", Li > uj lo�' '. se 1-- 58 UN T CT HEARTLANDS 01) co I-- �f cv) OD cu %0 Ln CT OD OF 58 ST 'D OD W m TAMARAC 57 DR ce IDS U > MAI�Lffl > w < �57 :LN] > GRE HAVE cu r- 57 PL w Ld > t" < CD m r- 57 PL 12 AIRYfvE-lm cv) > 'EL OD OD bol 4 8741-8767 57 CT 57 CT OFC. BLDG 57 ST NW 57TH ST CHEVRON --- --------------------- COMMERCIAL BLVD, z PARKWOOD-DWG PARKWOOD AT COLONY WEST RELEASE OF WARRANTY BOND $.W.f.P.T- Ad4ress' tAP� US33 ADA * 667008414.�: Vex 496160,11 CAPUPSWA -gs this Letter EffoctiveJun6' 6 200 gvl win correspondence includin y dra..,, A\ ]�LEASE-S-ENW�4-A-QVJ IGHT COURIER TO �RN CITY OF TAMARAC t4A, 6011 NOB HILL ROAD LO C � TAMARAC, FLORIDA 33321-2401 MAAvf �j ATTN: RAJ VERMA DIRECTOR OF PUBLIC WORKS /'y 6 //-A Lo C 2�ln ce ameK Loc f-lr- a-12 n'. i I kA "Exhibit 2" November 18,1998 Beneficiary: City Of Tamarac 7525 N.W. 88th Avenue Tamarac,Florida 33321 Gentlemen: AUNION PLANTERS BANK Letter of Credit No. L986370 Expiration Date:November 18,1999 At Our Counters We hereby establish'our Irrevocable Standby Letter of Credit No. L986370 in your favor at the fequest of Park Wood At Colonly West,lnc.,2409 University Drive,Coral Springs in the amount &f USD 37,932.00 (Thirty Seven Thousand Nine Hundred Thirty Two dollars only and 00/100). 0 .;,.-The purpose of this Irrevocable Letter of Credit is to insure installation of Public Improvements ndicated on the certified cost estimate dated NLkRCH 15, 1999 Tunds under this Letter of Credit are available to you in one or more drawings against sight draft M (7,(s) drawn on Union Planters Bank North Bay Village, Florida mentioning our Letter of Credit -No. L986370. Each draft must be accompanied by: t— A signed statement from The City offamarac or its authorized representives stating that: (4)The drawing is due to Park Wood At Colonly Westjnc.failure to construct the public improvements. (b)That the developer's obligations have not been completed and the Cit� of Tamarac has, notified the bond wiH not be extended,or (c)That a warranty bond that is required by Tamarac City code has not been provided. It is'a condition of this Letter of Credit that it shall be deemed automatically extended 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 thirty (60) day 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. Letters of Credit Department iz Li vannariu rniectoww . mt%rth it5%j Npii5eva rl^rlAn III I A I. rin;i 991-44M - Fay rinsi 991-4792 ir Any draft here under and in compliance with the terms of this credit will be duly honored if presented at this office on or before the date of expiration, when accompanied by the required documents. Except so far as otherwise expressly stated, this credit is subject to the Uniform Customs and Practice for Documentary Credit (1993 Revision), International Chamber of Commerce Publication No. 500 MARLk FEWS ASST - WE PRESIDENT =SR& a CREDIT DEPARTMENT NONNE ESPINOSA Asst Cashier International Division lk"2000 - /;? 0 FOR APPROVAL ONLY - PERFORMANCE BOND Item Title: PARK WOOD AT COLONY WES T_ ----PERFORMANCE BOND IN THE FORM OF AN IRREVOCABLE STANDBY LETTER OF CREDIT #L986370- FROM UNION PLANTERS BANKJN THE AMOUNT OF $37,932.00. THE PROJECT IS LOCATED EAST OF NW 84THTERRAC E AND LAGOS DE CAMPO. The initiating Division is to place a number between the parentheses ( ) below, beginning with 1, to indicate the routing order of each department that must initial their approval in order for this item to be accepted by the City. DgRaIlm--ent (1) Utilities/Engineering (2) Risk Management (3) City Attorney (4) City Clerk (Please PON Return approved form to Utilities) Initiating Division's Signature Initials for Approval \W.e\ ( � L Date: \ aLas M 19 Date 194 November 18,1998 Beneficiary: City Of Tamarac 7525 N.W. 88th Avenue Tamarac,Florida 33321 Gentlemen: AUN ON PLANTERS BANK Letter of Credit No. L986370 Expiration Date:November 18,1999 At Our Counters at the ,,We hereby establish our Irrevocable Standby Letter of Credit No. L986370 in your favor 'request of Park Wood At Colonly West,Inc.,2409 University Drive,Coral Springs in the amount C�)f USD 37,932.00 (Thirty Seven Thousand Nine Hundred Thirty Two dollars only and 00/100). C) ,,--'The purpose of this Irrevocable Letter of Credit is to insure installation of Public Improvements ndicated on the certified cost estimate dated MARCH 15,1999. "Funds under this Letter of Credit are available to you in one or more drawings against sight draft (s) drawn on Union Planters Bank,North Bay Village, Florida mentioning our Letter of Credit No. L986370, Each draft must be accompanied by: 4" `vA signed statement from The City of Tamarac or its authorized representives stating that: (a)The drawing is due to Park Wood At Colonly West,Inc. failure to construct the public improvements. (b)That the developer's obligations have not been completed and the City of Tamarac has notified the bond,%Nill not be extended,or (c)That a warranty bond that is required by Tamarac City code has not been provided. it is a condition of this Letter of Credit that it shall be deemed automatically extended 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 thirty (60) day 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. Letters of Credit Department 1666 Kennedy Causeway - North Bay Village, Florida 33141 - (305) 993-4400 - Fax (305) 993-4782 1* Any draft here under and in compliance with the terms of this credit will be duly honored if presented at this office on or before the date of expiration, when accompanied by the required documents. Except so far as otherwise expressly stated, this credit is subject to the Uniform Customs and Practice for Documentary Credit (1993 Revision), International Chamber of Commerce Publication No. 500 MARIAFF-BUS ASST -VICE pFtESDENT LMRS of CREDIT DEpARTMENT Arm U1, Ma'1111016AM 1! " IVONNE ESPINOSA Asst Cashier International Division Temp. Reso. #8703 May 2, 2000 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2000- /,P-0 A RESOLUTION OF THE CITY COMMISSION AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC IMPROVEMENT PERFORMANCE BOND IN THE FORM OF AN IRREVOCABLE STANDBY LETTER OF CREDIT #L986370 FROM UNION PLANTERS BANK, IN THE AMOUNT OF $37,932.00 SUBJECT TO THE RECEIPT OF A ONE-YEAR WARRANTY BOND, IN THE AMOUNT OF $17,367.00 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY PARKWOOD AT COLONY WEST, INC., FOR THE PARKWOOD AT COLONY WEST PROJECT LOCATED ON THE SOUTH SIDE OF LAGOS DE CAMPO BOULEVARD BETWEEN NW 84h TERRACE AND SOUTH COLONY CIRCLE; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Parkwood at Colony West, Inc., has constructed the Parkwood at Colony West Project and installed the Water Distribution and Sewage Collection System Improvements in accordance with the Site Plan approved by the City Commission on July 22,1998;and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac on October 28, 1998, requires Parkwood at Colony West, Inc., to provide a one-year Warranty Bond to the City of Tamarac for the Parkwood at Colony West Project Water Distribution and Sewage Collection System Temp. Reso. #8703 May 2, 2000 2 improvements located on the south side of Lagos De Campo Boulevard between NW` 84" Terrace and South Colony Circle (attached hereto in map form as "Exhibit V); and WHEREAS, Parkwood at Colony West, Inc., has requested the release of a Public Improvement Performance Bond in the form of an Irrevocable Standby Letter of Credit #L986370 from Union Planters Bank, in the amount of $37,932.00 (attached hereto as "Exhibit 2") subject to the receipt of a one-year Warranty Bond in the amount of $17,367.00 to the City of Tamarac for the Water Distribution and Sewage Collection System Improvements installed for the Parkwood at Colony West Project; and WHEREAS, the Improvements were inspected, approved and are recommended for acceptance for a one-year warranty period by the Utilities Engineering Division; and WHEREAS, it is the recommendation of the Interim Director of Utilities that the Public Improvement Performance Bond be released for the Parkwood at Colony West Project Water Distribution and Sewage Collection System Improvements; and 1, - .1 0 Temp. Reso. #8703 May 2, 2000 3 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 subject to the receipt of a one-year Warranty Bond from Parkwood at Colony West, Inc., for the Parkwood at Colony West Project water Distribution and Sewage Collection System Improvements. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA: SEgTION 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, That the appropriate City Officials are hereby authorized to accept the one-year Warranty Bond for the Water Distribution and Sewage Collection System Improvements in the amount of $17,367.00 for the Parkwood at Colony West Project located on the south side of Lagos De Campo Boulevard between NW 84 th Terrace and South Colony Circle in accordance with Section 10-156 of the City Code. Temp. Reso. #8703 May 2, 2000 4 SEQTION I That the City Clerk is hereby authorized and directed to release to the Utilities Department for return to Parkwood at Colony West, Inc., the Performance Bond upon acceptance of the one-year Warranty Bond for the Parkwood at Colony West Project. The bond is in the form of an Irrevocable Standby Letter of Credit #L986370 from Union Planters Bank, in the amount of $37,932.00 for the Water Distribution and Sewage Collection System Improvements. 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. #8703 May 2, 2000 5 SEqTION 6- This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this -A��ay of 2000. ATTEST: MARION S ENSO�N INTERIM CITY CLERK I HER Y ERTIFY that I �ave ,�B C app,r6v d isRESOLU as to /form. )- A Tr ITCHELL S. KRAF CITY ATTORNEY RV/krs/mg JOE SCHRE113ER MAYOR RECORD OF COMMISSION MAYOR SCHREIBER DIST 1: COMM. PORTNER— DIST 2: COMM. MISHKIN — DIST 3: COMM, SULTANOF, DIST 4; VIM ROBERTS EXHIBIT 1 TEMP. RESO. #8703 1 *70 ST r C:4 Qbz 70 CT -i L.Jw Ld .1 '6 --j' z w Z Q 0 LJ X: AE a CL > C3 1- 0 Z 'Z WOODMONT WOODMONT 9�1 I-- c' Li PLAZA > co 't -J z >- 0 z COMMONS co 0- C3C —i < 4 0 0 x ow D U m 41 U2 P LLI Z U u Ld McNAB ROAD CONCORD VILLAGE VboDlLANb LAKEf — 0 "4 9VIt L A S. SANDS POIN COL. W. LAND SEC. CA 64 CLUB 4�1 HOUSE N)- N. \,'ERSAILLEs LC 44 GARDENS AL LMS OLF CAKO V LLAS R KES COL13NY CIR. PTS obs ILI WEDGES GOLF COURSE, Si E %N LOC .. NN . . . . . . FAIRVIE DR. OARDWALK APTS. w B FAIRWAYS 61 ST qt CD 61 ST 62 CT LK APTS- -70 B[3ARDWA 7/ 2 . . . . . . . ... 171,111, Im 59 PL 59 PL z > > 61 S Li LLi < 59 CT 59 CT (EDGE TER) wl > > z Lo MAINLANDS 4, 59 ST co 59 ST co UNIT 13 co r- c 0 coL 177 WATERSIDE 60 ST 58 P PL w Q� 41 0: 0: MAI L NDS�; > w > w 58 CT EARTLAND r- LIN 58 m co cu OF 58 5 %0 CT co TAMARAC co 57 DR 3r ST > ir MAINLAt DS 4x W 119 m FREE HAVE (u w 5:7 3LN > 57 PL OD P CD FA!KtlMVr_ 57 PL 12 > co 11 Aj5�1 OD C OD 8741-8767 57 CT 57 CT OFC, BLDG 57 ST NW 57TH S m Of 0 z CHEVRON COMMERCIAL BLVD. ------------ PARKWOOD.DWG PARKWOOD AT COLONY WEST PERFORMANCE BOND RELEASE