HomeMy WebLinkAboutCity of Tamarac Resolution R-93-070Temp. Reso. # 6490
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-93- _%D
A RESOLUTION RELEASING A PERFORMANCE LETTER
OF CREDIT POSTED FOR THE WATER DISTRIBUTION
SYSTEM BY LENNAR HOMES, INC., FOR THE
MALVERN PROJECT; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, Lennar Homes, Inc., as Principal, with
Manufacturers Bank as Surety, has filed with the City
Performance Letter of Credit No. 514494 in the amount of
$87,091.50 to guarantee the Water Distribution System at
Malvern; and
WHEREAS, the City Engineering Department has found that
the work has been satisfactorily completed and has recommended
release of said performance bond upon receipt of a one-year
warranty bond in the amount of $33,727.74.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That Performance Letter of Credit No. 514494
posted by Lennar Homes, Inc., as Principal, with Manufacturers
Bank, as Surety, in the amount of $87.091.50 posted for the
Water Distribution System at Malvern is HEREBY RELEASED, subject
to receipt of a one-year warranty bond in the amount of
$33,727.74.
SECTION 2: This Resolution shall become effective
immediately upon adoption.
PASSED, ADOPTED AND APPROVED this al-i d y of , 1993.
ATTEST:
CAROL A. EVANS
CITY CLERK
I HEREBY CERTIFY that I h
approved this Resoluti as
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CITY ATTO
MAYOR.
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