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Home My WebLink AboutCity of Tamarac Resolution R-2001-067Temp. Reso 9313 March 13, 2001 Page 1 of 3 CITY OF TAMARAC, FLORIDA RESOLUTION NO. R-2001- 41 A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF TAMARAC, FLORIDA, AUTHORIZING THE APPROPRIATE CITY OFFICIALS TO RELEASE PERFORMANCE BOND, LETTER OF CREDIT FROM UNION PLANTERS BANK, #L004552, IN THE AMOUNT OF $5,280.00 POSTED FOR THE CONSTRUCTION OF AN EASTBOUND RIGHT TURN LANE INTO RIVERSIDE FUNERAL HOME ON N.W. 57T" STREET SUBJECT TO RECEIPT OF A WARRANTY BOND IN THE AMOUNT OF $1,320.00; PROVIDING FOR CONFLICTS; PROVIDING FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE DATE. WHEREAS, Parkwood Holdings, Inc. with Union Planters Bank as Surety, filed with the City of Tamarac a performance bond, Letter of Credit #L004552, in the amount of $5,280.00 to guarantee construction of an eastbound right turn lane into Riverside Funeral Home on N.W. 57th Street, a copy of said letter of credit attached hereto as Exhibit "'I"; and WHEREAS, the construction of the right turn lane has been completed, as indicated in Exhibit "2", inspected and found acceptable by the Public Works Engineering Division; and WHEREAS, it is the recommendation of the Public Works Director and the Stormwater Engineer that the performance bond, Letter of Credit #L004552, be released subject to receipt of a warranty bond in the amount of $1,320,00 which represents 25% of the certified actual cost as outlined in Exhibit "3" and required by Sec. 10-156(b) of the City Code; and U\Admin\Agendas\9313-Re1ease of Performance Bond-571' St. Turn Lane-bl Temp. Reso 9313 March 13, 2001 Page 2 of 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 performance bond, Letter of Credit #L004552, in the amount of $5,280.00, posted for the construction of an eastbound right turn lane into Riverside Funeral Home on N.W. 57th Street subject to receipt of a warranty bond in the amount of $1,320.00. 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 performance bond, Letter of Credit #L004552, in the amount of $5,280.00 posted for the construction of an eastbound right turn lane into Riverside Funeral Home installed on N.W. 57th Street subject to receipt of a warranty bond in the amount of $1,320.00. 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. U\Admin\Agendas\9313-Release of Performance Bond-57'h St. Turn Lane-bl Temp. Reso 9313 March 13, 2001 Page 3 of 3 1-1 LJ Section 5: This Resolution shall become effective immediately upon its passage and adoption. PASSED, ADOPTED AND APPROVED this 11th day of April,2001. ATTEST: M"SW, CMC CITY CLERK I HEREBY CERTIFY that I have approved this RESOLUTION as to form. f1�IL.c � V -1 JOE SCHREIBER MAYOR RECORD OF COMMISSION VOTE: MAYOR SCHREIBER DIST 1: COMM. PORTNER DIST 2: COMM. MISHKIN DIST 3: V/M SULTANOF DIST 4: COMM. ROBERTS U\Admin\Agendas\9313-Release of Performance Band-57"' St. Turn Lane-bl 4UNtN PLANTERS BANK 9700 N.W. 112 Avenue, Miami, Florida 33176 TEMP . RESO. #9313 Tel. 786-W-4400 • Fax 786.845-4782 EXHIBIT "I" S.W,I.F.T. Address UPNBUS44 • Telex 6737871 UPBMIA August 22, 2000 BENEFICIARY City of Tamarac 7525 N.W. 88`h Avenue Tamarac, Florida 33321 Gentlemen: Letter of Credit No. L004552 Expiration Date: August 22, 2001 at our counters We hereby establish our Irrevocable Standby Letter of Credit no. L004552 in your favor at the request of Parkwood Holdings, Inc., 2409 University Drive, Coral Springs, Florida 33065-5123 in the amount of U_S.$5,280.00 (U.S. Five Thousand Two Hundred Eighty and No/100). The purpose of this Irrevocable Letter of Credit is to insure installation of Public Improvements indicated on the certified cost estimate dated February 29, 2000. 4" Funds under this Letter of Credit are available to you in one or more drawings against sight draft(s) drawon on Union Planters Bank, Miami, Florida mentioning our Letter of Credit No. L004552. Each draft must be accompanied by: A signed statement purportedly from The City of Tamarac or its authorized representatives stating that: (a) The drawing is due to Parkwood Holdings, 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 will 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 (I) -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. AUNCN PLANTERS 1ANK 9 9700 N.W. 112 Avenue, Miami, Florida 33178 Tel. 786.W-4A00 • Fax 786-8A5-A782 TEMP. RESO. #9313 S.W.I.F.T. Addraa UPNBUS44 . Telex 6737871 UPBMIA EXHIBIT " 1 " We hereby engage with you that all drafts and documents presented within the terms and conditions of the above mentioned Letter of Credit will be duly honored on presentation to us. This Standby Letter of Credit is subject to the Uniform Customs and Practice for Documentary Credits 0 993 Revision) International Chamber of Commerce Publication 500. Please address all your correspondence to Union Planters Bank, Attention International Operations, 9700 N.W. 112t' Avenue, Miami, Florida 33178 J''HORiZEp SiGNA7UgE y.A-) AUTH6"'Ep , A7UFE TEMP. RESO. t9313 EXHIBIT ' ' Engineering, Inc, IlIIlIq 11', S�mplr Road, Suite 330('oral 1�•.ip� .4 ('on•nruceion tirrticr� pi,ing'S, Florida DU65 TO 954-227-27.6-FA\/!bic.sa�r:95t-227-37,2 Final Certification of Completed Permit Work Project : 57" Street Right Turn lane at Riverside Funeral Home Broward County Engineering Reference No.: 000411050 Contractor: Frymyer Paving I hereby certify to the construction completion of the above project, All reasonable inspections, tests and physical measurements have been made to determine that the work has been constructed in substantial conformance with the plans and specifications approved by )3roward County. A4 Azita Behmardi, P.E. A13ACO Engineering, Inc- '. /i /Clf Florida P.E. No. 44388 l Y OF 1 A IVI t(A l CERTIFIED COST ESTIMATE Development Review Engineer: Joe Abruzzino (954-724-1375) _ Horne ProjectName: 57trAve Kinane:at Rivers T iii�ae Developer: Parkwood Lam» builders, try Engineer: ABACO Enyiiiotiiiiy; int: ; Site Preparation Landscaping and Irrigatiol Pavement Construction DrainageConsb1Xti0n Sidewalks Street Median Cuts ('S(T Asphalt Resurfacina TOTALS: CERTIFICATE: -rrti�A� nnnT F FFc ram. nivu Isla i 11SP7r- F*ZDV. 17alJ MIBIT r'3" Private Public % Fee Private Public $0-00 S35C.0C 8-15 $0.0o $25.03 SO-00 S350-00 8.15 SO.DO $25.03 $0.00 3,091.90 8.25 $0.00 $321-08 $0.00 $0.00 8.25 S0-00 So.00 so m $r� 10 8.25 $o 00 S.56 77 Each" _ 50.00. 2.0o so sD-oo b) 55,280.00 SO.00r $427.90 Total Fee: $427.90 Less Fees Previous) Paid: Balance Due to C' $427.90 I hereby certify that this estimate is true and correct to the best of my knowledge and belief and represents the total site development costs for the project. a/,2f, Div �tt6a qL/3ss Date Engineer's Signature Reg. No. Public Improvement Performance Bond from "b)" above (To be in place during construction): Cost = $5,280.00 x 100% = $5,280D0 Pubiic Improvement warranty Bond from "b)" above (To be in place for 1 year fofiorving constructions Cosa = S5.280.00 x 25% = Approved by City Engineer: ` Streets more than 2 years old, W Median cut with stacking lane, $250.00 x number of median aril Median cut wio stack lane, wi curb cui, S2W.CKi x no. of median CM, Median cut wio stack. Lane or curb cut, S50.00 x no- of median cut- 'sc'� and Go C, 75 A of atovC 1ncSV. VJ' �JVr $1,320.00 ::A�CR;ri�;w;tri Tamarac Cen Est'Fori11.5s 1 PAGE 1 of 1 Form Issued January 10, 1999 S GS f?M4 /t +-kjr` �"'"' PW r �tL C Irr A411 iC+4dwK /�R/t') tr►y City of Tamarac 7525 N.W. 88th Avenue, Tamarac, Florida 33321-2401 Office of the Telephone: (954) 724-1200 • Facsimile (954) 724-1212 City Clerk April 18, 2001 Mr. Medardo Suarez International Department Sent Via Fax: Union Planters Bank (786) 845-4782 9700 NW 112 Avenue Miami, FL 33178 RE: Letter of Credit L004552 -- Union Planters Bank Riverside Funeral Home — turn lane Dear Mr. Suarez: Enclosed please find a copy of City of Tamarac Resolution No. R2001-67, authorizing the release of Performance Bond, Letter of Credit from Union Planters Bank, #L004552, in the amount of $5,280.00, posted for the construction of an eastbound right turn lane into Riverside Funeral Home on NW 571h Street, subject to receipt of a warranty bond in the amount of $1,320.00. The City Clerk's office is unable to locate the original Performance Bond, Letter of Credit from Union Planters Bank, #L004552, in the amount of $5,280.00, however, we do have a copy of said bond. The City has received Warranty Bond L010740 in the amount of $1,320.00, and subject to our receipt of the warranty bond, Performance Bond L004552 is released. If you have any questions, please contact my office at (954) 724-1200. Sincerely, Marion Swenson, CMC City Clerk Enclosures I T Equal Opportunity Employer P 054 ills 905 US Postal Service Receipt for Certified Mail No Insurance Coverage Provided. vu nur ube rur rniemanonal Mau see reverse Sent to 1QC cAb Sul Ne & Number Post O ice, State. & ZIP Cade _ �1 ►� ZA i 7 Postage CertMed Fee Special Delivery Fee Restricted Delivery Fee u7 cK Return Receipt Showing to Y whom m Date Delivered ROW R"V Sm" to Whom 9 TOTAL Postage h Fees Postmark or Date 0 v7 a