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HomeMy WebLinkAboutCity of Tamarac Resolution R-2001-210Temp. Reso. #9465 July 23, 2001 1 Revision 2, August 16, 2001 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2001- 21© 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 #S002239 FROM SUNTRUST BANK, IN THE AMOUNT OF $2,757.50 FOR THE SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY LENNAR LAND PARTNERS, INC., FOR THE SOUTHAMPTON PHASE "G" PROJECT LOCATED ON THE WEST SIDE OF NOB HILL ROAD BETWEEN NW 71ST PLACE AND NW 80T" STREET; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Lennar Land Partners, Inc., has constructed the Southampton Phase "G" Project and installed the 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 on March 26, 1997, requires Lennar Land Partners, Inc., to provide a one-year Warranty Bond to the City of Tamarac for the Southampton Phase "G" Project Sewage Collection System improvements located on the west side Nob Hill Road between NW 71" Place and NW 80t" Street (a copy of which is attached hereto in map form as "Exhibit 1 "); and 1 Temp. Reso. #9465 July 23, 2001 2 Revision 2, August 16, 2001 WHEREAS, Lennar Land Partners, Inc., has requested the release of a Public Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit #S002239 from Suntrust Bank, in the amount of $2,757.50 (a copy of which is attached hereto as "Exhibit 2") for the Sewage Collection System improvements installed for the Southampton Phase "G" 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 Phase "G" Project 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 #S002239 from Suntrust Bank, in the amount of $2,757.50 for the Southampton Phase "G" Project 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 1 1 1 Temp. Reso. #9465 July 23, 2001 3 Revision 2, August 16, 2001 resolution. SECTION 2: The appropriate City Officials are hereby authorized to release the one-year Public Improvement Warranty Bond for the Sewage Collection System improvements in the form of an Irrevocable Standby Letter of Credit #S002239 in the amount of $2,757.50 for the Sewage Collection System improvements installed by Lennar Land Partners, Inc., for the Southampton Phase "G" Project located on the west side of Nob Hill Road between NW 715' Place and NW 80" 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 applications of this Resolution. LEI 1 1 SECTION 5: passage and adoption. Temp. Reso. #9465 July 23, 2001 4 Revision 2, August 16, 2001 This Resolution shall become effective immediately upon its PASSED, ADOPTED AND APPROVED this 22nd day of August, 2001. ATTEST: MARION-SWENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. 'CHELL 4 ITY ATTO TR/DM/db EY I JOE SCHREIBER MAYOR RECORD OF COMMISSION VOTE: MAYOR SCHREIBER Alves DIST 1: COMM. PORTNER Al ev DIST 2: COMM. MISHKIN Al el DIST 3: V/M SULTANOF Alva; DIST 4: COMM. ROBERTS AI EXHIBIT I TEMP. 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TAMARAC, FL. 33321 APPLICANT: LENNAR LAND PARTNERS 8190 STATE ROAD 84 DAVIE, FL. 33324 AMOUNT: USD 2,757.50 DATE OF EXPIRY : APRIL 19, 2001 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 S002239 IN YOUR FAVOR FOR AN AMOUNT NOT TO EXCEED IN THE AGGREGATE U.S. DOLLARS USD 2,757.50 (TWO THOUSAND SEVEN HUNDRED FIFTY SEVEN AND 50/100 U.S. DOLLARS) EFFECTIVE IMMEDIATELY AND EXPIRING AS STATED HEREIN AT OUR SUNTRUST BANK, 3737 NW 87TH AVENUE, MIAMI, FLORIDA 33178 OFFICE. WITHOUT OBLIGATION ON OUR PART, WE ARE ADVISED THAT THIS N"t IRREVOCABLE LETTER OF CREDIT IS TO ENSURE THE CORRECTION OF ALL INSUFFICIENCIES IN DESIGN, WORKMANSHIP AND/OR MATERIALS WHICH ARE FOUND WITHIN (1) YEAR OF THE DATE OF THE FORMAL ACCEPTANCE��s OF THE SUB -DIVISION IMPROVEMENTS OF THE CITY OF TAMARAC FOR THE `use INSTALLATION OF PUBLIC IMPROVEMENTS INDICATED ON CERTIFIED COST ESTIMATE AND APPROVED BY THE UTILITY ENGINEER FOR SEWER CONSTRUCTION FOR SOUTHAMPTON PHASE G AND DEVELOPER'S OBLIGATION TO COMP, TVT1TH THE REQUIREMENT OF TAMARAC CITY CODE SECTION 10-156. THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED BY A 'k#e SIGNED STATEMENT FROM THE CITY OF TAMARAC OR ITS' AUTHORIZED c 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, 1st Floor, Miami, Florida 33178 Swift: SNTRUS3M Telex: 542210 311677 t3/00) SuNTRuST IRREVOCALBLE LETTER OF CREDIT NO. S002239 (C) THAT THE CITY OF TAMAR.AC HAS BEEN NOTIFIED THAT THE BOND WILL NOT BE EXTENDED." 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 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 S002239." 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. �A E IGNA SUNTRUST BANK, MIAMI, N.A. 307 il JSI+J 11'tJED"if DEPT. 1 C• All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W. 87th Avenue, 1st Floor, Miami, Florida 33178 Swift: SNTRUS3M Telex: 542210 311677 (3/00)