HomeMy WebLinkAboutCity of Tamarac Resolution R-97-297Temp. Reso.#8043 October 27, 1997 1
CITY OF TAMARAC
RESOLUTION NO. R-97- 7- 9 7
A RESOLUTION OF THE CITY COMMISSION OF THE CITY
OF TAMARAC, FLORIDA, AUTHORIZING THE
APPROPRIATE CITY OFFICIALS TO RELEASE A PUBLIC
IMPROVEMENT PERFORMANCE BOND IN THE AMOUNT
OF $13,400.00 SUBJECT TO THE RECEIPT OF A
WARRANTY BOND IN THE AMOUNT OF $3,350.00 FROM
PULTE HOME CORPORATION FOR WATER DISTRIBUTION
SYSTEM IMPROVEMENTS FOR THE SANIBEL PROJECT
LOCATED ON THE EAST SIDE OF SANIBEL (CANAL BANK)
BETWEEN NW 80TH AVENUE AND SOUTHGATE
BOULEVARD; PROVIDING FOR CONFLICTS; PROVIDING
FOR SEVERABILITY; AND PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, Pulte Home Corporation has constructed the Sanibel Project and has
installed the Water Distribution System Improvements; and
WHEREAS, the Water and Sewer Developer's Agreement accepted and
executed by the City of Tamarac on October 19, 1993, requires Pulte Home
Corporation to provide a Warranty Bond to the City of Tamarac for the Sanibel Water
Distribution System Improvements located on the east side of Sanibel (canal bank)
between NW 80" Avenue and Southgate Boulevard (attached hereto in map form as
"Exhibit 1 "); and
WHEREAS, Pulte Home Corporation has requested the release of the Public
Temp. Reso.#8043 October 27, 1997 2
Improvement Performance Bond in the form of an Irrevocable Standby Letter of Credit
in the amount of $13,400.00 (attached hereto as "Exhibit 2") subject to the receipt of a
one-year Warranty Bond in the amount of $3,350.00 to the City of Tamarac for the
Water Distribution System Improvements installed for the Sanibel Project; and
WHEREAS, the Improvements were inspected, approved and are recommended
for acceptance for a one-year warranty period by the Utilities Engineering Division; and
WHEREAS, it is the recommendation of the Director of Utilities that the Public
Improvement Performance Bond be released for the Sanibel Project Water Distribution
System Improvements; and
WHEREAS, the City Commission of the City of Tamarac, Florida deems it to be
in the best interest of the citizens and residents of the City of Tamarac to release the
Public Improvement Performance Bond subject to the receipt of a one-year Warranty
Bond from Pulte Home Corporation for the Sanibel Project Water Distribution System
Improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF TAMARAC, FLORIDA:
SECTION 1: The foregoing "WHEREAS" clauses are hereby ratified and
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Temp. Reso.#8043 October 27, 1997 3
confirmed as being true and correct and are hereby made a specific part of this
resolution.
SECTION 2: That the appropriate City Officials are hereby authorized to
accept the one year Warranty Bond for the Water Distribution and Sewage Collection
System Improvements in the amount of $3,350.00 for the Sanibel Project located on the
east side of Sanibel (canal bank) between NW 80" Avenue and Southgate Boulevard in
accordance with Section 10-156 of the City Code.
SECTION 3: That the City Clerk is hereby authorized and directed to
release to the Utilities Department for return to Pulte Home Corporation the
Performance Bond upon acceptance of the one (1) year Warranty Bond for the Sanibel
Project. The bond is in the form of an Irrevocable Standby Letter of Credit #13393795
in the amount of $13,400.00 for the Water Distribution System Improvements.
SECTION 4: All resolutions or parts of resolutions in conflict herewith are
hereby repealed to the extent of such conflict.
SECTION 5: If any clause, section, other part or application of this
Resolution is held by any court of competent jurisdiction to be unconstitutional or
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Temp. Reso.#8043 October 27, 1997 4
invalid, in part or application, it shall not affect the validity of the remaining portions or
applications of this Resolution.
CFrTInK1 A -
passage and adoption.
1997.
This Resolution shall become effective immediately upon its
PASSED, ADOPTED AND APPROVED this /o day of feew—r9-e,,L ,
ATTEST:
CAROL A. EVANS, CMC
CITY CLERK
JOE SCHREIBER
MAYOR
I HEREBY CERTIFY that I have
appr v d this RESOLUTION as
to f rm
vMIT6HLt S. 14(
A
CITY ATTO E RECORD OF COMM
MAYOR SCHREIBER
TR/dav/aml DIST 1: COMM. McKAYE
DIST 2: V/M MISHKIN
DIST 3: COMM. SULTANC
DIST 4: CO ROBEATc
VOTE
EXHIBIT I
TEMP. RESO. # 8043
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EXHIBIT 2
Temp. Reso.#8043
PULTE FINANCIAL COMPANIES, INC.
6061 S. WILLOW DRIVE, SUITE 300
GREENWOOD VILLAGE, COLORADO 801 it
AUGUST 7, 1995
IRREVOCABLE STANDBY LETTER OF CREDIT NO. 13393795
BENEFICIARY:
CITY OF TAMARAC
6 81 1 N.W.33THAVENUE
TAMARAC, FL 33321
AMOUNT:
$13,400,00
(THIRTEEN THOUSAND FOUR HUNDRED
AND 00/100 US DOLLARS)
RE: LAND SECTION 6 - SANIBEL
WATERMAN TIE-IN
PERFORMANCE SECURITY
APPLICANT:
PULTE HOME CORPORATION - S. FLORIDA
33 BLOOMFIELD HILLS PARKWAY, r^_00
13LOONIFIELD HILLS, MI 48304
EXPIRATION DATE:
AUGUST 11, 1996
WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT NO. 13393795 IN YOUR
FAVOR, FOR ACCOUNT OF PULTE HOME CORPORATION, 1350 E. NEWPORT CENTER DRIVE,
4200, DEERFIELD BEACH, FLORIDA 33442 FOR A SUM[ NOT EXCEEDING THIRTEEN THOUSAND
FOUR HUNDRED AND 00/100 USD (S13,400.00) AVAILABLE BY YOUR DRAFT AT SIGHT ON
PULTE FINANCIAL COMPANIES, INC. WHEN ACCOMPANIED BY:
A STATEMIENT SIGNED BY THE CITY OF TAMARAC OR ITS AUTHORIZED REPRESENTATIVE
AS FOLLOWS: "WE CERTIFY THAT PULTE HOME CORPORATION HAS FAILED TO COMPLETE
THE INSTALLATION OF WATERV[AN TIE-IN ON NORTH END OF SECTION 6 INDICATED ON
PLANS PREPARED BY CCL CONSULTANTS ON TnY 28, 1995, AND THAT PULTE HOME
CORPORATION'S OBLIGATION TO COMPLY WITH THE REQUIREMENTS OF TAMARAC CITY
CODE SECTION 10-156 HAS NOT BEEN MET."
jcrr 1 IT IS A CONDITION OF THIS LETTER OF CREDIT THAT IT SHALL BE DEEMED
AUTOMATICALLY EXTENDED WITHOUT AMENDMENT FOR ONE YEAR PERIODS FROM THE
EXPIRATION DATE HEREOF, OR ANY FUTURE EXPIRATION DATE, UNLESS AT LEAST Su<TY
(60) DAYS PRIOR TO ANY EXPIRATION DATE WE SHALL NOTIFY YOU BY REGISTERED MAIL
THAT WE ELECT NOT TO CONSIDER THIS LETTER OF CREDIT RENEWED FOR ANY SUCH
:.•r ADDITIONAL PERIOD. UPON RECEIPT BY YOU OF SUCH NOTICE, YOU MAY DRAW
HEREUNDER BY PRESENTING YOUR SIGHT DRAFT DRAWN ON US WHEN ACCOMPANIED BY
THE SIGNED STATEMENT AS INDICATED ABOVE OR A STATEMENT SIGNED BY THE CITY OF
TAMARAC OR ITS AUTHORIZED REPRESENTATIVE AS FOLLOWS: "WE CERTIFY THAT WE
r„1 j HAVE BEEN NOTIFIED IN WRITING BY PULTE FINANCIAL COMPANIES, INC. OF THEIR
ELECTION NOT TO RENEW THEIR LETTER OF CREDIT NO. 13393795 AND THAT A WARRANTY
BOND REQUIRED BY THE TAMARAC CITY CODE HAS NOT BEEN PROVIDED."
ALL DRAFTS DRAWN UNDER THIS CREDIT MUST BE NARKED "DRAWN UNDER PULTE
FINANCIAL COMPANIES, INC. LETTER OF CREDIT NO. 13393795."
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