HomeMy WebLinkAboutCity of Tamarac Resolution R-87-3533
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Temp. Reso. #4822
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-87- �Z�3
A RESOLUTION RELEASING A PERFORMANCE BOND POSTED
FOR PUBLIC IMPROVEMENTS BY LAKES OF CARRIAGE
HILLS, INC., FOR LAKE EXCAVATION AT THE LAKES OF
CARRIAGE HILLS PROPERTY, AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, Lakes of Carriage Hills, Inc., as Principal,
and Barnett Bank of South Florida, N.A., as Surety, has filed
with the City Letter of Credit No. SB-852 in the amount of
$160,250.00 to guarantee lake excavation at Lakes of Carriage
Hills; and
WHEREAS, the City Engineering Department has found that
a portion of the work has been satisfactorily completed and
has recommended release of said bond upon receipt of a one-
year warranty bond in the amount of $38,812.50 for the
completed excavation and receipt of a Performance Bond for
the uncompleted lake excavation in the amount of $17,250.00.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
SECTION 1: That the Letter of Credit No. St 852 posted
by Lakes of Carriagie Hills, Inc.,as Principal, and Barnett
Bank of South Florida, N.A., as Surety, in the amount of
$160,250.00 for lake excavation at Lakes of Carriage Hills is
HEREBY RELEASED, subject to receipt of a one year warranty
bond in the amount of $38,812.50 for completed excavation and
receipt of a Performance Bond for the uncompleted lake excava-
tion in the amount of $17,250.00.
SECTION 2: This Resolution shall become effective
immediately upon adoption.
PASSED ADOPTED AND APPROVED this vZp
ay of 1987.
ATTEST; BERNARD HART
CAROL BARBUTO MAYOR: HART Y
CITY CLERK
DIST. 1: C/M ROHR
I HEREBY CERTIFY THAT I have
approved this RESOLUTION as LAST. 2. C/M STEL.ZER "._..
to form. DIST. 1 C/M HOFFMAN ..
DI::T. 4: V/M STEIN
RICHARD L. DOODY
CITY ATTORNEY
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