HomeMy WebLinkAboutCity of Tamarac Resolution R-83-270Introduced by Temp. #2872
1 CITY OF TAMARAC, FLORIDA
2 RESOLUTION NO. R-83-Lp�2o
3 A RESOLUTION PERTAINING TO DISPOSITION
OF A PERFORMANCE BOND POSTED BY
4 UNIVERSITY HOUSING CORPORATION FOR THE
CONCORD VILLAGE PROJECT; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, University Housing Corporation, as principal, with
Continental Illinois Bank and Trust Company, as surety, has filed with
'8 the City Letter of Credit No. 6221682 in the amount of $94,000.00 to
9 guarantee public improvements associated with the Concord Village
10 project; and
11 WHEREAS, the bond is due to expire and there is not properly
12 completed work; and
13 WHEREAS, the Principal has been notified that the work is not
74 properly completed.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC,
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FLORIDA:
SECTION 1: That the recitations as set forth above are true and
correct.
SECTION 2: That the appropriate City officials are hereby
authorized to call Letter of Credit No. 6221682 in the amount of
$94,000.00 posted to guarantee public improvements associated with the
Concord Village project if the remedial repairs listed in City
Engineer's memo No. 0883-53 dated August 26, 1983, are not completed
on or before September 27, 1983, or if the bond has not been extended
by that date.
SECTION 3: That said Letter of Credit be released if the
remedial repairs are accomplished on or before September 27, 1983,
subject to receipt of the following:
(1) Bill of Sale for the water distribution and sewag
collection system improvements;
..........
(2) Payment of additional engineering fees in the
amount of $4,279.25.
(3) One-year warranty bond in the amount of $28,831.80I.
Temp. #2872
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SECTION 4: This Resolution shall become effective upon adoption
PASSED, ADOPTED AND APPROVED this c,?1_4��day of , 1983.
ATTEST:
ASSISTANT CITY CLERK
I HEREBY CERTIFY that I have
approved the orm and correct-
ness of this Resolution.
yl•CE MAYOR
RECORD OF COUNCIL VOTE
MAYOR FALCK:
DIST. I: C/M KRAVITZ:
DIST. 2: V/M MASSARO:
DIST. 3: C/M STELZER: Ire
DIST. 4: C/M KRANTZ