HomeMy WebLinkAboutCity of Tamarac Resolution R-98-198Temp. Reso.# 8294, June 2, 1998 1
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-98-q�
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 #S960456 FROM SUNTRUST BANK, MIAMI, NA, IN
THE AMOUNT OF $30,565.00 SUBJECT TO THE RECEIPT
OF A ONE-YEAR WARRANTY BOND IN THE AMOUNT OF
$9,276.63 FOR THE WATER DISTRIBUTION SYSTEM
IMPROVEMENTS INSTALLED BY LENNAR HOMES, INC.,
FOR THE KINGS POINT COMMERCIAL PLAZA PROJECT
LOCATED ON THE SOUTHEAST CORNER OF NOB HILL
ROAD AND NW 77T" STREET; PROVIDING FOR
CONFLICTS; PROVIDING FOR SEVERABILITY; AND
PROVIDING FOR AN EFFECTIVE DATE.
WHEREAS, Lennar Homes, Inc., has constructed the Kings Point Commercial
Plaza Project and installed the Water Distribution System Improvements in accordance
with the Site Plan approved by the City Commission on May 8, 1996; and
WHEREAS, the Water and Sewer Developer's Agreement accepted and
executed by the City of Tamarac on June 12, 1996, requires Lennar Homes, Inc., to
provide a one-year Warranty Bond to the City of Tamarac for the Kings Point
Commercial Plaza Water Distribution System Improvements located on the southeast
corner of Nob Hill Road and NW 77th Street (attached hereto in map form as "Exhibit
1 "); and
Temp. Reso.# 8294, June 2, 1998 2
WHEREAS, Lennar Homes, Inc., has requested the release of a Public
Improvement Performance Bond in the form of an Irrevocable Standby Letter of Credit
#S960456 from SunTrust Bank, Miami, NA., in the amount of $30,565.00 (attached
hereto as "Exhibit 2") subject to the receipt of a one-year Warranty Bond in the amount
of $9,276.63 to the City of Tamarac for the Water Distribution System Improvements
installed for the Kings Point Commercial Plaza 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 Kings Point Commercial Plaza
Project Water Distribution 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 Lennar Homes, Inc., for the Kings Point Commercial Plaza Project Water
Distribution System Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
1
L
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Temp. Reso.#8294 June 2, 1998, 3
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: That the appropriate City Officials are hereby authorized to
accept the one-year Warranty Bond for the Water Distribution System Improvements in
the amount of $9,276.63.00 for the Kings Point Commercial Plaza Project located on
the southeast corner of Nob Hill Road and NW 771" Street in accordance with Section
10-156 of the City Code.
SECTION 3: That the City Clerk is hereby authorized and directed to
release to the Utilities Department for return to Lennar Homes, Inc., the Performance
Bond upon acceptance of the one-year Warranty Bond for the Kings Point Commercial
Plaza Project. The bond is in the form of an Irrevocable Standby Letter of Credit
#S960456 from SunTrust Bank, Miami, NA., in the amount of $30,565.00 for the Water
Distribution System Improvements.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
1
1
Temp. Reso.#8294 June 2, 1998, 4
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.
SECTION 6: This Resolution shall become effective immediately upon its
passage and adoption.
PASSED, ADOPTED AND APPROVED this___e day of
..;
ATTEST:
CAROL G , CMC/AAE
CITY CLERK
I HEREBY CERTIFY that I have
approved this RESOLUTION as
to form.
TR/dav/tk
[a]IWWA2101IC 01IW
JOE SCHREIBER
•-
RECORD OF COMMISSION VOTE
MAYOR SC HREIBER
DIST 1: COMM. McKAYE OLAA �
DIST 2: W(0 MISHKIN 0—&4
DIST 3: _COMM, SULTA_NOF
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DIST 4: COMM. ROBERTS� ",Z ..