HomeMy WebLinkAboutCity of Tamarac Resolution R-77-114Prepared by: C Temp. #794
Introduced by:._ o "--�
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. — -77 11
A RESOLUTION AUTHORIZING RELEASE OF A
LETTER OF CREDIT POSTED BY PARADISE
DEVELOPERS, INC.
WHEREAS, a Letter of Credit in the amount of $201,928.19
was posted by Paradise Developers, Inc. for subdivision improve-
ments at the project known as Paradise Estates, and
WHEREAS, the City Engineer has made final inspection of the
sewage collection, water distribution, and storm water drainage
systems and the canal bulkhead and, therefore, recommends release
of said Letter of Credit, subject to
a) Receipt of Letter of Credit in the amount of $25,872.50
to guarantee the above named improvements for one year and
b) Receipt of Letter of Credit in the amount of $43,368.75,
which is 1250 of the estimated costs for completion of
pavement,curbs and gutters, sidewalks and guardrail, and
WHEREAS, the City Council wishes to release said Letter of
Credit in the amount of $201,928.19;
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That a Letter of Credit in the amount of $201,928.19
posted by Paradise Developers, Inc. is hereby released.
SECTION 2: Conditions: Receipt of
a) Letter of Credit in the amount of $25,872.50 to guarantee
for one year the sewage collection, water distribution and storm
water drainage systems and canal bulkhead and
b) Letter of Credit in the amountof $43,368.75 which is 125%
of the estimated costs for completion of pavement, curbs and gutters,
sidewalks and guardrail.
- a -
PASSED, ADOPTED AND APPROVED THIS _ day of
ATTEST:
Y CLERK
I HEREBY CERTIFY that I have
approved the form and correct-
ness of this RESOLUTION.
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CITY AATTORNEY
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1977.
RECORD OF COUNCIL VOTE
MAYOR W. FALCK
V/M H. MASSARO
C/M M. WEINDERGER_
C/M I. M. DISRAELLY bZ
C/M M. KLIKA
While Council directed that it not be incorporated into this
Resolution, one of the conditions of approval was that the
developer pay any fees determined by the City to be still owing.