HomeMy WebLinkAboutCity of Tamarac Resolution R-83-3021
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Introduced by Temp.Reso. #2920
CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-83-?
A RESOLUTION RELEASING FIVE PERFORMANCE BONDS
POSTED FOR PUBLIC IMPROVEMENTS BY F & R BUILDERS,
INC. FOR THE KINGS POINT PROFESSIONAL PLAZA; AND
WHEREAS, F & R Builders, Inc. has filed with the City
certain Letters of Credit to guarantee public improvements at
the Kings Point Professional Plaza; and
WHEREAS, the City Engineer has found that the work has
been satisfactorily completed and has recommended release of
said bonds upon receipt of one-year warranty bonds, payment
of additional engineering fees and receipt of a performance
bond for uncompleted sidewalks.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF
TAMARAC, FLORIDA:
,SECTION 1: That Letter of Credit No. NABG-R90584F
posted by F & R Builders, Inc., as Principal, and Citibank,
N.A., as Surety, in the amount of $18,838.50 for paving and
drainage at Kings Point Professional Plaza is HEREBY RELEASED
subject to receipt of a one-year warranty bond in the amount
of $4,828.92.
SECTION 2: That Letter of Credit No. NABG-R90585F
posted by F & R Builders, Inc., as Principal, and Citibank,
N.A., as Surety, in the amount of $1,800.00 for public land-
scaping at Kings Point Professional Plaza is HEREBY RELEASED
subject to receipt of a one-year warranty bond in the amount
of $450.00.
SECTION 3: That Letter of Credit No. NABG--R90586F
posted by F & R Builders, Inc., as Principal, and Citibank,
N.A., as Surety, in the amount of $1,350.00 for completed
sidewalks, slabs, curbs and gutters at Kings Point
Professional Plaza is HEREBY RELEASED subject to receipt of a
one-year warranty bond in the amount,of $2,943.44.
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SECTION_ That Letter of Credit No. NABG-R90587F
posted by F & R Builders, Inc., as Principal, and Citibank,
N.A., as Surety, in the amount of $8,480.00 for the water
distribution system at Rings Point Professional Plaza is
HEREBY RELEASED subject to receipt of a one --year warranty
bond in the amount of $2,120.00.
SECTION _ : That Letter of Credit No. NABG-R90588F
posted by F & R Builders, Inc., as Principal, and Citibank,
N.A., as Surety, in the amount of $19,776.50 for the sewage
collection system at Rings Point Professional Plaza is HEREBY
RELEASED subject to receipt of a one --year warranty bond in
the amount of $4,944.12.
SECTION_fi: The release of the Letters of Credit in
Sections l through 5 above shall also be subject to the
following:
a) Receipt of additional engineering fees in the amount
of $256.13; and
b) Receipt of a performance bond in the amount of
$1,275.00 for uncompleted sidewalks which are to be
completed within 90 days of the effective date of this
Resolution.
SECTION 7: This Resolution shall become effective
immediately upon adoption.
PASSED,ADOPTED AND APPROVED this 7"ay of A ter 1983.
ATTEST:
yASSISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved th form and correctness
o this ReFlution.
fol
RECORD OF COUNCIL VOTE
MAYOR FALCK:
DIST. 1: C/M KRAVITZ: ��..
DIST. 2: V/M MIASSARO:
DIST. 3: C/M STELZER:
DIST. 4: C!rL!l KRANTZ: � __