HomeMy WebLinkAboutCity of Tamarac Resolution R-79-105Introduced by : `_;'X
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R- % �-/OS''
A RESOLUTION REPEALING RESOLUTION NO.
R-78-212, ACCEPTING A ONE-YEAR WARRANTY
LETTER OF CREDIT AND RELEASING A SUB-
DIVISION IMPROVEMENT BOND FOR WESTWOOD
COMMUNITY SEVEN (ISLES OF TAMARAC).
WHEREAS, Resolution No. R-78-212 authorized release of a Sub-
division Improvement Bond posted by Leadership Housing, Inc. in the
amount of $640,000.00 for Westwood Community Seven upon receipt of a
replacement bond in the amount of $425,391.61 from G.M.C. Investment
Company d/b/a Isles of Tamarac; and
WHEREAS, G.M.C. Investment Company has and will not submit said
replacement bond; and
WHEREAS, the City Engineer has made final inspection and
recommends release of the Subdivision Improvement Bond posted by
Leadership Housing, Inc., upon acceptance of a one-year warranty
Letter of Credit from Schmidt Industries; and
WHEREAS, the City Council wishes to accept the recommendation
of the City Engineer.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That Resolution No. R-78-212 is hereby repealed.
SECTION 2: That the one-year warranty irrevocable Commercial
Letter of Credit in the amount of $284,000.00 drawn on the Landmark
First National Bank of Fort Lauderdale by the Bank of Hallandale and
Trust Company and Schmidt Industries, is approved and accepted.
SECTION 3: That the Subdivision Improvement Bond in the amount
of $640,000.00 posted by 'Leadership Housing, Inc. for Westwood
Community Seven (Isles of Tamarac) is hereby released.
PASSED, ADOPTED AND APPROVED this 23 day of ` l ,1979.
AT EST:
t TY CLERK
I HEREBY CERTIFY that I have
approved the form and correctness
of this RESOLUTION.
CITY ATTORNEY
VICE MAYOR
RECORD OF COUNCIL VOTE
MAYOR:'���
DISTRICT 1:
DISTRICT 2:
DISTRICT 3:
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