HomeMy WebLinkAboutCity of Tamarac Resolution R-77-172Introduced by:V Yyj
Temp. #870
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. - -77-/7 Z,
A RESOLUTION AUTHORIZING RELEASE OF A CASH SUB-
DIVISION IMPROVEMENT BOND POSTED BY SUMMIT PROPER-
TIES FOR SUMMIT PROPERTIES PLAZA
WHEREAS, a cash subdivision improvement bond in the
amount of $27,320.00 was posted by Summit Properties as princi-
pal for the Summit Properties Plaza project; and
WHEREAS, the City Engineer has made final inspection and
recommends to the City Council that the bond covering the Summit
Properties Plaza be released subject to certain conditions; and
WHEREAS, the City Council wishes to release said bond for
$27,320.00 in accordance with the recommendations of the
City Engineer:
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY
OF TAMARAC, FLORIDA:
SECTION 1: That the cash subdivision improvement bond
in the amount of $27,320.00 posted by Summit Properties as prin-
cipal for Summit Properties Plaza, is hereby released subject
to the conditions enumerated in Section 2 hereof.
SECTION 2: The conditions which must be met by Summit
Properties prior to the release of the subject bond are as follows:
(a) Payment of additional fees due to the City in the
amount of $1,205.60.
(b) Posting of a 125% subdivision improvement bond in
the amount of $1,875.00 for that portion of the
0.
project remaining to be completed.
(c) Posting of a 25% Warranty Bond in the amount of
$12,875.00 for that portion of the work which has
been completed.
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PASSED, ADOPTED AND APPROVED THIS
1977.
ATTEST:
I HEREBY CERTIFY that I have
approved the form and correct-
ness of this Resolution.
illiam Gem ill, City Attorney
Temp. #t870
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