HomeMy WebLinkAboutCity of Tamarac Resolution R-77-027Proposed by: a-4--4 wzb
Introduced by :ck VNN
CITY OF TAMARAC, FLORIDA
RES10LiTrION N0. • 1 '1 - '� 'J
A RESOLUTION RELEASING A SUBDIVISION IMPROVEMENT
BOND POSTED BY DANIEL RESNIC K AND A 1,P7= OF
CREDIT POSTFiD BY DANIEL RESNIC K AND MARTIN ZUaMWAN,
TRS FOR T[E TIMBER RUN SERVICE STATION.
W
WBEREAS , a Subdivision Improvement Bond in the amount of $27,447.55 was
posted. by Daniel Resnick, as principal and Fidelity'and Deposit Coapany of
Maryland, as surety, and
WBEREAS, a Letter of Credit in the amount of $2,507.50 was posted by
Daniel Resnick and Martin Zuckerman, as trustees, issued by the Bank of
Tamarac, and
WMREAS, the City Engineer has recommended release of said Subdivision
Improvement Bond and Letter of Credit subject to receipt of a warranty bond
in the amount of $6,534.25, and
W EREAS , the City Council wishes to release said bond and letter of credit.
NOW, THEREFORE, BE IT RESOLVED BY THE . ODUNCIL OF TIM CITY OF- TAMARAC,
FLORIDA:
SECTION 1: That the Subdivision Improvement Bond and Letter of Credit
totaling $29,955.'05 posted by Daniel ' Resnick and Martin Zuckerman, as trustees
are hereby released, subject to receipt . of a one-year warranty bond in the amount
of $6,534.25,
Mr' O ' I• r iZ I r r �,•
ATTEST
I �IEREBY C ERTI FY that I have
approved the form and correctness
of this Resolution.
RECORD OF COUFMIL VOTE
MAYOR W. FAQ (;K----L2�
VIM H. MASSARO Gc.�e--
C/W M. KELCH
C/M 0. TUCKER C•� �-D
CAM M. WEINBERGER CL.crQ--
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BANK OF TAMARAC
6000 NORTH UNIVERSITY DRIVE
TAMARAC, FLORIDA 33321
1305) 721-4900
IRREVOCABLE LETTER OF CREDIT #BT-0022
February 2, 1977
City of Tamarac
5811 Northwest 88th Ave.
Tamarac, Florida 33321
Gentlemen:
This is to advise you that our Bank has issued to Dr. Daniel Resnick an
Irrevocable credit in your favor -in the amount of $6, 534.25.
This credit is available by your draft on us payable, on sight, accompanied
by a statement indicating that Dr. Daniel Resnick is in default. pursuant to
his obligations and undertakings in connection with subdivision improvements
required pursuant to the site plan known as Timber Run Service Station.
We hereby confirm the above described Letter of Credit and undertake that all
drafts.drawn and presented as specified will be duly honored by us for a
period of one (1 ) year from the date hereof .
This credit is subject to Uniform Customs and Practice for Documentary credit
(1962 Revision), International Chamber of Commerce Brochure #22.
Very truly yours,
y
Roy Tanis
Vice resident
RDT/dcb