HomeMy WebLinkAboutCity of Tamarac Resolution R-2001-073n
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Temp. Reso. #9314
March 12, 2001 1
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-2001- 7 3
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 #S990269
FROM SUNTRUST BANK, IN THE AMOUNT OF $43,534.50
FOR THE WATER DISTRIBUTION AND SEWAGE
COLLECTION SYSTEM IMPROVEMENTS INSTALLED BY
LENNAR LAND PARTNERS, FOR THE SOUTHAMPTON
PHASE F PROJECT LOCATED ON THE WEST SIDE OF
NOB HILL ROAD BETWEEN NW 77T" STREET AND NW 71ST
STREET; PROVIDING FOR CONFLICTS; PROVIDING FOR
SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, Lennar Land Partners has constructed the Southampton Phase F
Project and installed the Water Distribution and 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, to
provide a one-year Warranty Bond to the City of Tamarac for the Southampton Phase F
Project Water Distribution and Sewage Collection System Improvements located on the
west side of Nob Hill Road between NW 77t" Street and NW 71" Street (a copy of which
is attached hereto in map form as "Exhibit 1 "); and
Temp. Reso. #9314
March 12, 2001 2
WHEREAS, Lennar Land Partners, has requested the release of a Public
Improvement Warranty Bond in the form of an Irrevocable Standby Letter of Credit
#S990269 from Suntrust Bank, in the amount of $43,534.50 (a copy of which is
attached hereto as "Exhibit 2") for the Water Distribution and Sewage Collection System
Improvements installed for the Southampton Phase F 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 F 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 an Irrevocable Standby Letter of
Credit #S990269 from Suntrust Bank, in the amount of $43,534.50 from Lennar Land
Partners for the Southampton Phase F Project Water Distribution and Sewage
Collection System Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
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Temp. Reso. #9314
March 12, 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 to
release the Public Improvement Warranty Bond for the Water Distribution and
Sewage Collection System Improvements in the form of an Irrevocable Standby Letter
of Credit #S990269 in the amount of $43,534.50 for the Water Distribution and Sewage
Collection System Improvements installed by Lennar Land Partners, for the
Southampton Phase F Project located on the west side of Nob Hill Road between NW
7711 Street and NW 71 st 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.
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Temp. Reso. #9314
March 12, 2001 4
SECTION 5: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this 11 `h day of April, 2001.
/_ll111*15I
MARION SW NSON, CMC
CITY CLERK
I H BY ERTIFY that I
h e a pr, ved this
AESO U ON s t rm.
MITCHELL s.-KRAF
CITY ATTORNEY
RG/DM/DB
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
EXHIBIT 1
TEMP. RESO. # 9314
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S_HAMPT❑N,DWG
SOUTHAMPTON - PHASE F
WARRANTY BOND RELEASE
Exhibit 2
SuNTRusT
SUNTRUST BANK, MIAMI, N.A.
IRREVOCABLE STANDBY LETTER OF CREDIT NO. S990269
MAY 06,1999
BENEFICIARY: APPLICANT:
CITY OF TAMARAC LENNAR LAND PARTNERS
7525 N.W. 88TH AVE. 8190 STATE ROAD 84
TAMARAC, FL. 33321 DAVIE, FL. 33324
AMOUNT: USD 43,534.50
DATE OF EXPIRY : MAY 6,2000.
PLACE OF EXPIRY: AT OUR COUNTERS
WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.
S990269 IN YOUR FAVOR, FOR ACCOUNT OF LENNAR LAND PARTNERS,
8190 STATE ROAD 84 DAVIE, FL. 33324 FOR A SUM NOT EXCEEDING
USD43,534.50 (FORTY THREE THOUSAND FIVE HUNDRED THIRTY FOUR
AND 50/100 U.S. DOLLARS) AVAILABLE BY YOUR DRAFT AT SIGHT
ON SUNSTRUST BANK, MIAMI, N.A., WHEN ACCOMPANIED:;
"A STATEMENT SIGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED
REPRESENTATIVE AS FOLLOWS: "WE CERTIFY THAT LENNAR LAND PARTNERS,
HAS FAILED TO CORRECT ALL INSUFFICIENCIES IN DESIGN, WORKMANSHIP
AND/OR MATERIALS WHICH ARE FOUND WITHIN ONE (1) YEAR OF THE DATE
OF THE FORMAT, ACCEPTANCE OF THE SUB -DIVISION IMPROVEMENTS OF THE
CITY OF TAMARAC FOR THE INSTALLATION OF PUBLIC IMPROVEMENTS
t"
INDICATED ON CERTIFIED ACTUAL COST DATED NOVEMBER, 1998 AND
APPROVED BY THE UTILITY ENGINEER FOR THE WATER DISTRIBUTION
? .`
AND SEWAGE COLLECTION SYSTEMS FOR SOUTHAMPTON PHASE F AND
DEVELOPER'S OBLIGATION TO COMPLY WITH THE REQUIREMENTS OF
TAMARAC CITY CODE SECTION 10-156."
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE
DEEMED AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR
PERIODS FROM THE EXPIRATION DATE: HEREOF, OR ANY FUTURE
EXPIRATION DATE, UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO ANY
EXPIRATION DATE WE SHALL NOTIFY YOU BY REGISTERED MAIL OR
COURIER THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT
RENEWED FOR ANY SUCH ADDITIONAL PERIOD. UPON RECEIPT BY YOU
OF SUCH NOTICE, YOU MAY DRAW HEREUNDER PRESENTING YOUR SIGHT
DRAFT DRAWN ON US WHEN ACCOMPANIED BY THE SIGNED STATEMENT AS
INDICATED ABOVE OR A STATEMENT SIGNED BY THE CITY OF TAMARAC OR
ITS AUTHORIZED REPRESENTATIVE AS FOLLOWS: "WE CERTIFY THAT WE
HAVE SEEN NOTIFI2D IN WRITING BY SUNTRUST BANK, MIAMI, N.A.
OF THEIR ELECTION NOT TO RENEW THEIR LETTER OF CREDIT NO.
S990269 AND THAT A WARRANTY BOND REQUIRED BY THE TAMARAC CITY
'
CODE HAS NOT BEEN PROVIDED."
ALL DRAFTS DRAWN UNDER THIS CREDIT MUST BE MARKED "DRAWN UNDER
SUNTRUST BANK, MIAMI, N.A. LETTER OF CREDIT NO. S990269."
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
51AMWSICT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (1993 REVISION), INTERNATIONAL CHAMBER OF
COMMERCE, PUBLICATION NO. 500.
THIS ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS THERETO MUST
BE SUBMITTED TO US TOGETHER WITH ANY DRAWINGS HEREUNDER FOR OUR
ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US AND/OR FOR
CANCELLATION.
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 ON DELIVERY OF THE DOCUMENTS AS
SPECIFIED IF PRESENTED AT THIS OFFICE ON OR BEFORE MAY 5, 200ty
OR ANY AUTOMATICALLY EXTENDED DATE.
RUS�r BI
A sr
AUTISORI2ED 7T N ept
SUNTRUST INTL. SERVICES, INC.
AS AGENT FOR
SUNTRUST BANK, MIAMI, N.A.
307
All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W- 87th
Avenue, 1 st Floor, Miami, Florida 33178 Swift: SNTRUS3M Telex: 542210
FOR APPROVAL ONLY - WARRANTY BOND
Item Title: SOUTHAMPTON PHASE F --- WARRANTY BOND IN THE FORM
OF AN IRREVOCABLE STANDBY LETTER OF CREDIT #S990269 — FROM
SUNTRUST BANK IN THE AMOUNT OF $43,534.50. THE PROJECT IS LOCATED
ON THE WEST SIDE OF NOB HILL ROAD BETWEEN 71ST PLACE AND NW 80T"
STREET.
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.
Department Initials for Approval Date
(1) Utilities/Engineering IO�v�I
(2) Risk Management
(3) City Attorney
(4) City Clerk (Please
Return approved form to Utilities,
Initiating Division's Signature:
Date:
L
/XF
SUNTRUST
SUNTRUST BANK, MIAMI, N,A-
IRREVOCABLE STANDBY LETTER OF CREDIT NO. S990269
MAY 06,1999
BENEFICIARY:
CITY OF TAMARAC
7525 N.W. 88TH AVE.
TAMARAC, FL. 33321
APPLICANT:
LENNAR LAND PARTNERS
8190 STATE ROAD 84
DAVIE, FL. 33324
AMOUNT: USD 43,534.50
DATE OF EXPIRY : MAY 6,2000.
PLACE OF EXPIRY: AT OUR COUNTERS
WE .HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO.
S990269 IN YOUR FAVOR, FOR ACCOUNT OF LENNAR LAND PARTNERS,
8190 STATE ROAD 84 DAVIE, FL. 33324 FOR A SUM NOT EXCEEDING
USD43,534.50 (FORTY THREE THOUSAND FIVE HUNDRED THIRTY FOUR
AND 50/100 U,S. DOLLARS) AVAILABLE .BY YOUR DRAFT AT SIGHT
'.:.
ON SUNSTRUST BANK, MIAMI, N.A., WHEN ACCOMPANIED:;
"A STATEMENT SIGNED BY THE .CITY OF TAMARAC OR ITS AUTHORIZED
REPRESENTATIVE AS FOLLOWS: "WE CERTIFY THAT LENNAR LAND PARTNERS,
HAS FAILED 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 SUB -DIVISION IMPROVEMENTS OF THE
CITY OF TAMARAC FOR THE INSTALLATION OF PUBLIC IMPROVEMENTS
47,
INDICATED ON CERTIFIED ACTUAL COST DATED NOVEMBER, 1998 AND
APPROVED BY THE UTILITY ENGINEER FOR THE WATER DISTRIBTjTION
AND SEWAGE COLLECTION SYSTEMS FOR SOUTHAMPTON PHASE F AND
DEVELOPER'S OBLIGATION TO COMPLY WITH THE REQUIREMENTS OF
TAMARAC CITY CODE SECTION 10-156."
IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE
DEEMED AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR
PERIODS FROM THE EXPIRATION DATE: HEREOF, OR ANY FUTURE
_.
EXPIRATION DATE, UNLESS AT LEAST SIXTY (60) DAYS PRIOR TO ANY
EXPIRATION DATE WE SHALL NOTIFY YOU BY REGISTERED MAIL OR
COURIER THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT
RENEWED FOR ANY SUCH ADDITIONAL PERIOD_ UPON RECEIPT BY YOU
�+
OF SUCH NOTICE, YOU MAY DRAW HEREUNDER PRESENTING YOUR SIGHT
DRAFT DRAWN ON US WHEN ACCOMPANIED BY THE SIGNED STATEMENT AS
3
INDICATED ABOVE OR A STATEMENT SIGNED BY THE CITY OF TAMARAC OR
ITS AUTHORIZED REPRESENTATIVE AS FOLLOWS: "WE CERTIFY THAT WE
HAVE BEEN NOTIFIED IN WRITING BY SUNTRUST BANK, MIAMI, N.A.
OF THEIR ELECTION NOT TO RENEW THEIR LETTER OF CREDIT NO.
S990269 AND THAT A WARRANTY BOND REQUIRED BY THE TAMARAC CITY
CODE HAS NOT BEEN PROVIDED."
ALL DRAFTS DRAWN UNDER THIS CREDIT MUST BE MARKED "DRAWN UNDER
SUNTRUST BANK, MIAMI, N.A. LETTER OF CREDIT NO. S990269."
All correspondence and communication should be directed to our agent SunTrust International Services, Inc., 3737 N.W. 87th
Avenue, 1 st Floor, Miami, Florida 33178 Swift: SNTRUS3M Telex: 542210 1
5w0)w5TCT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (1993 REVISION), INTERNATIONAL CHAMBER OF
COMMERCE, PUBLICATION NO. 500,
THIS ORIGINAL LETTER OF CREDIT AND ALL AMENDMENTS THERETO MUST
BE SUBMITTED TO US TOGETHER WITH ANY DRAWINGS HEREUNDER FOR OUR
ENDORSEMENT OF ANY PAYMENTS EFFECTED BY US AND/OR FOR
CANCELLATION.
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 ON DELIVERY OF THE DOCUMENT'S AS
SPECIFIED IF PRESENTED AT THIS OFFICE ON OR BEFORE MAY 6, 2000
OR ANY AUTOMATICALLY EXTENDED DATE_
B
AsRUB
A-- 4OKIZEDIGN Opt
SUNTRUST INTL. SERVICES, INC.
AS AGENT FOR
SUNTRUST BANK, MIAMI, N.A.
307
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