HomeMy WebLinkAboutCity of Tamarac Resolution R-96-252Temp. Reso.7571 October 1, 1996 1
CITY OF TAMARAC
RESOLUTION NO. R-96-292-
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 STANDBY LETTER OF CREDIT
#S530442 FROM FIRST UNION NATIONAL BANK OF
FLORIDA IN THE AMOUNT OF $7,325.00 SUBJECT TO THE
RECEIPT OF A WARRANTY BOND IN THE AMOUNT OF
$1,831.25 FROM R.E PEARSON FOR WATER
DISTRIBUTION IMPROVEMENTS IN RADIATION THERAPY
CENTER PROJECT LOCATED ON THE EAST SIDE OF
UNIVERSITY DRIVE BETWEEN NW 78TH STREET AND NW
82ND STREET; PROVIDING FOR CONFLICTS; PROVIDING
FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, R.E. Pearson, spouse of Martha Jean Eichelberg, owner has
constructed the Water Distribution System Improvements in accordance with the Site Plan
approved by the City Commission on July 26, 1995; and
WHEREAS, the Water and Sewer Developer's Agreement accepted and
executed by the City of Tamarac on July 26, 1995, requires Martha Jean Eichelberg to
provide a Warranty Bond to the City of Tamarac for the Radiation Therapy Center
Water Distribution System Improvements located on the east side of University Drive
between NW 78th Street and NW 82nd Street (attached hereto in map form as "Exhibit
1"); and
Temp. Reso.7571 October 1, 1996 2
WHEREAS, Martha Jean Eichelberg has requested the release of a Public
Improvements Performance Bond in the form of an Irrevocable Standby Letter of Credit
#S530442 from First Union National Bank in the amount of $7,325.00 (attached hereto
as "Exhibit 2") subject to the receipt of a one-year Warranty Bond in the amount of
$1,831.25 to the City of Tamarac for the Water Distribution System Improvements
installed in Radiation Therapy Center; 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 Radiation Therapy Center 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 Martha Jean Eichelberg for the Radiation Therapy Center Project Water
Distribution System Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
Temp. Reso.7571 October 1, 1996 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 $1,831.25 for the Radiation Therapy Center Project in accordance with
Section 10-156 of the City Code.
SECTION 33: That the City Clerk is hereby authorized and directed to
release to the Utilities Department for return to Martha Jean Eichelberg the
Performance Bond upon acceptance of the one (1) year Warranty Bond for the
Radiation Therapy Center Project. The bond is in the form of an Irrevocable Standby
Letter of Credit #S530442 in the amount of $7,325.00 for the Water Distribution System
Improvements.
All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
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
Temp. Reso.7571 October 1, 1996 4
invalid, in part or application, it shall not affect the validity of the remaining portions or
applications of this Resolution.
SECTION 6:
passage and adoption.
This Resolution shall become effective immediately upon its
PASSED, ADOPTED AND APPROVED thisi-3-day of NDVE Br.& ,
ATTEST:
&I �
CAROL A. EVANS, CMC
CITY CLERK
I HEREAY CERTIFY that I have
appr a this RESOLUTION as
to form A
ITCHELL`�S. KF
CITY ATTORN
Utilities/dav/aml
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VICE MAYOR
RECORD OF COMMISSION VOTE
MAYOR
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F' 1 ~•� "EXHIBIT 2" r„
FIRST UNION NATIONAL BANK OF FLORIDA
IRREVOCABLE STANDBY LETTER OF CREDIT
DECEMBER 26, 1995
CITY OF TAMARAC
7525'N.W. 88TH AVENUE
TAMARAC, FLORIDA 33321
LETTER OF CREDIT NO.
S530442
GENTLEMEN:
WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT IN YOUR
FAVOR, FOR THE ACCOUNT OF R.E. PEARSON, M.D., C/O RHON ERNEST
JONES, 2930 UNIVERSITY DRIVE CORAL SPRINGS, FL 33065 IN THE
AGGREGATE OF: USD 7,325.00 UNITED STATES DOLLARS (SEVEN THOUSAND
THREE HUNDRED TWENTY FIVE 00/100 ) AVAILABLE BY PAYMENT OF YOUR
DRAFT(S) AT SIGHT DRAWN ON OURSELVES.
A. WE ARE ADVISED THAT THIS IRREVOCABLE LETTER OF CREDIT IS TO
INSURE INSTALLATION OF PUBLIC IMPROVEMENTS INDICATED ON THE
CERTIFIED COST ESTIMATE DATED DECEMBER 5, 1995 AND ON PLANS
•PREPARED BY RHON ERNEST-JONES, CONSULTING ENGINEERS, INC.,
AND APPROVED BY THE CITY ENGINEER FOR RADIATION THERAPY
CENTER AND DEVELOPER'S OBLIGATION TO COMPLY WITH THE
REQUIREMENTS OF TAMARAC CITY CODE SECTION 10-156.
B. THE CITY IS AUTHORIZED TO DRAW DRAFTS AT SIGHT ACCOMPANIED
BY ASSIGNED .STATEMENT FROM THE CITY OF TAMARAC OR ITS
AUTHORIZED REPRESENTATIVES THAT:
C. (A) THE DRAWING IS DUE TO R.E. PEARSON M.D.'S FAILURE TO
CONSTRUCT THE PUBLIC IMPROVEMENTS.
D. (B) THAT THE DEVELOPER'S OBLIGATIONS HAVE NOT BEEN COMPLETED
AND THE CITY OF TAMARAC HAS BEEN NOTIFIED THE LETTER OF
CREDIT WILL NOT BE EXTENDED. OR
E. (C) THAT A WARRANTY BOND THAT IS REQUIRED BY TAMARAC CITY
CODE HAS NOT BEEN PROVIDED.
F. 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 OF OUR INTENT NOT TO RENEW FOR ADDITIONAL PERIOD WHICH
NOTICE MUST BE PROVIDED AT LEAST THIRTY (30) 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.
WE ENGAGE WITH YOU THAT EACH DRAFT DRAWN UNDER AND IN COMPLIANCE
WITH THE TERMS OF THIS CREDIT WILL BE DULY HONORED ON DELIVERY OF
i CONTINUED ON NEXT PAGE WHICH FORMS AN INTEGRAL PART OF THIS
� ran. q.pn ntr rnr.nr.»
FN-
"EXHIBIT 2"
IRREVOCABLE STANDBY LETTER OF CREDIT 9530442
DECEMBER 26, 1995
PACE NO. 2
THE DOCUMENTS AS SPECIFIED IF PRESENTED TO US AT OUR 111 WAIL
STREET OFFICE, N.Y. 10043, ATTN: NORTH AMERICAN TRADE SERVICES.
EXCEPT AS FAR AS OTHERWISE EXPRESSLY STATED HEREIN, THIS LETTER
OF CREDIT IS SUBJECT TO THE UNIFORM CUSTOMS AND PRACTICE FOR
DOCUMENTARY CREDITS (1993 REVISION) INTERNATIONAL CHAMBER OF
COMMERCE PUBLICATION NO. 500.
SINCERELY,
RIZED SIGNATURE �.
FIRST UNION NATIONAL BANK OF FLORIDA