HomeMy WebLinkAboutCity of Tamarac Resolution R-82-0731
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Introduced by t �
CITY OF TAMARAC, FLORIDA
RESOLUTION N0. ——
A RESOLUTION RELEASING A PERFORMANCE BOND
POSTED TO GUARANTEE WATER DISTRIBUTION
SYSTEM AT TAMARAC GARDENS PROJECT; PROVIDING
AN EFFECTIVE DATE.
Temp. 2199
8 WHEREAS, F & R Builders, Inc., as Principal, and Citibank, N. A., as
9 surety, has filed with the City an Irrevocable Letter of Credit No. NABG-R90015F
10 in the amount of $31,725.00 to guarantee the water distribution system at
11 Tamarac Gardens Project; and
.12 WHEREAS, the City Engineer has found that the work has been satisfactorily
13 completed and has recommended release of said Irrevocable Letter of Credit upon
14 receipt of a one-year warranty bond in the amount of $25,253.24 and payment
15 of additional engineering fees in the amount of $1,982.85.
16 NOW THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC, FLORIDA:
SECTION 1: That the Irrevocable Letter of Credit No. NABG-R90015F posted
by F & R Builders, Inc., as Principal, and Citibank, N.A., as surety, in the
amount of $31,725.00 to guarantee the water distribution system at the Tamarac
0 Gardens project,
21 IS HEREBY RELEASED, subject to receipt of a one-year warranty bond in the amount
22 of $25,253.24 and payment of additional engineering fees in the amount of
23 $1, 982.85 ..
SECTION 2: This Resolution shall become effective March 17, 1982.
PASSED, ADOPTED AND APPROVED this rQ day of 1982.
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MAYOR
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ATTEST
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ASSISTANT CITY CLERK
I HEREBY CERTIFY that I have approved
the form and correctness of the
RESOLUTION
CITY ATTORNEY
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RECORD OF COUNCIL VOTE
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DISTRICT 1: f✓jca e
DISTRICT 2:
DISTRICT 3:
DISTRICT 4: