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HomeMy WebLinkAboutCity of Tamarac Resolution R-2001-3431 1 r7 L i Temp. Reso.#9591 October 30, 2001 1 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2001-343 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 STANBY LETTER OF CREDIT #3028817 FROM BANK OF AMERICA IN THE AMOUNT OF $25,000.00, SUBJECT TO THE RECEIPT OF A ONE-YEAR WARRANTY BOND IN THE AMOUNT OF $6,050.00 FOR THE WATER DISTRIBUTION AND SEWAGE COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY ALAZHAR SCHOOL, INC., FOR THE ALAZHAR SCHOOL PROJECT LOCATED AT 7201 WEST MCNAB ROAD; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Alazhar School, Inc., has constructed the Alazhar School Project and installed the Water Distribution and Sewage Collection System Improvements in accordance with the Site Plan approved by the City Commission on May 24, 2000; and WHEREAS, the Water and Sewer Developer's Agreement accepted and executed by the City of Tamarac, requires Alazhar School, Inc., to provide a Warranty Bond to the City of Tamarac for the Alazhar School Project Water Distribution and Sewage Collection System Improvements located at 7201 West McNab Road (a copy of which is attached hereto in map form as "Exhibit 1 "); and Temp. Reso.#9591 October 30, 2001 2 WHEREAS, Alazhar School, Inc, has requested the release of a Public Improvement Performance Bond in the form of an Irrevocable Standby Letter of Credit #3028817 from Bank of America in the amount of $25,000.00 (a copy of which is attached hereto as "Exhibit 2") subject to the receipt of a Warranty Bond in the amount of $6,050.00 to the City of Tamarac for the Water Distribution and Sewage Collection System Improvements installed for the Alazhar School 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 Director of Utilities that the Public Improvement Performance Bond be released for the Alazhar School 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 Performance Bond subject to the receipt of a one-year Warranty Bond from Alazhar School, Inc., for the Alazhar School Project Water Distribution and Sewage Collection System Improvements. NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE 1 1 Temp. Reso.#9591 October 30, 2001 3 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 and directed to release to the Utilities Department for return to Alazhar School; Inc., a Public -_-_ Improvement Performance Bond in the form of an Irrevocable Standby Letter of Credit #3028817 from Bank of America in the amount of $25,000.00 subject to the receipt and acceptance of a one-year Warranty Bond for the Water Distribution and Sewage Collection System Improvements in the amount of $6,050.00 for the Alazhar School Project located at 7201 West McNab Road 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. 4Fr:T10N1 passage and adoption. This Resolution shall become effective immediately upon its Temp. Reso.#9591 October 30, 2001 4 PASSED, ADOPTED, AND APPROVED this 28t" day of November, 2001. - ATTEST: MARION 8WENSON, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RES01UTION as to form. ITCHELL S. KKAF CITY ATTORNEY TR/dtm/db J CHREIBER MAYOR RECORD OF COMMISSION VOTE: MAYOR SCHREIBER fl el DIST 1: COMM. PORTNER A eM DIST 2: COMM. MISHKIN fl ye., DIST 3: V/M SULTANOF Al & DIST 4: COMM. ROBERTS fl ev 1 1 I EXHIBIT 1 TEMP. 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PLAT BANK d 60 ST ,r r 72- 7L 59 ST 70 ST BR❑❑KSIDE COVE MCNAB ROAD CASABLANCA `0 CENTER WOODLANDS SCHOOL SITE LOCATION 7 .T- F O Z 62 ST W ST 3 r- g � a %0 `0 W > 60 CT n `O o f 60 ST / �f 59 ST r1/j 1 59 ST ALAZHAR.D'u ALAZHAR SCHOOL PERFORMANCE BOND RELEASE SankofAmerica Exhibit 2 DATE: AUGUST 28, 2000 PAGE: 1 IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER: 3028817 BENEFICIARY CITY OF TAMARAC 6001 NOB HILL ROAD TAMARAC, FL 33321 APPLICANT ALAZHAR SCHOOL, INC. 4505 NW 103RD AVE. SUNRISE FL 33351 AMOUNT USD 25,000.00 TWENTY FIVE THOUSAND AND 00/100'S US DOLLARS EXPIRATION OCTOBER 21, 2000 AT OUR COUNTERS WE HEREBY ESTABLISH IN YOUR FAVOR OUR IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER 302881.7 WHICH IS AVAILABLE WITH BANK OF AMERICA, N.A. BY PAYMENT AGAINST PRESENTATION OF THE ORIGINAL OF THIS LETTER OF CREDIT AND YOUR DRAFTS AT SIGHT DRAWN ON BANK OF AMERICA, N.A., ACCOMPANIED BY THE DOCUMENTS DETAILED BELOW: A SIGNED STATEMENT FROM THE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE CERTIFYING THAT EITHER: "THE UNDERSIGNED, AN AUTHORIZED REPRESENTATIVE OF THE CITY OF TAMARAC, HEREBY CERTIFIES THAT THIS DRAWING IS DUE TO ALAZHAR SCHOOL, INC.'S FAILURE TO CORRECT ALL INSUFFICIENCIES IN DESIGN, WORKMANSHIP AND/OR MATERIALS WHICH HAVE BEEN FOUND WITHIN ONE (1) YEAR OF THE DATE OF THE FORMAL ACCEPTANCE OF THE PUBLIC IMPROVEMENTS BY THE CITY COMMISSION OF TAMARAC"; OR - Bang of America rr�� PAGE: 2 THIS IS AN INTEGRAL PART OF LETTER OF CREDIT NUMBER: 3028817 ' L7 � L AUIZED SIGNATURE AUTHORIZED SIGNATURE THIS DOCUMENT CONSISTS OF 2 PAGE(S).