HomeMy WebLinkAboutCity of Tamarac Resolution R-82-219Introduced by e /'1?
Temp. #2398
Rev. 7/27/82
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CITY OF TAMARAC, FLORIDA
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RESOLUTION NO. R-82-o2/.2
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A RESOLUTION RELEASING A PERFORMANCE
BOND
POSTED FOR PUBLIC IMPROVEMENTS BY
MONTWOOD,
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INC., FOR CYPRESS AT WOODMONT III,
TRACTS 68/77;
AND PROVIDING AN EFFECTIVE DATE.
(,
WHEREAS, MON-TWOOD, INC., Principal,
THE FIRST
as and
NATIONAL
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BANK OF CHICAGO, as Surety, has filed with the City
Letter of Credit
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No. 1405-00300141 in the amount of $102,732.50 to
guarantee public
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improvements at Cypress at Woodmont III, Tracts
68/77; and
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.NIHEREAS, the City Engineer has recommended
release of said
-U
Letter of Credit subject to:
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(1) Developer providing TV inspection of the
sanitary sewer
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system and satisfactory completion of
remedial repairs
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before August 16, 1982;
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(2) Payment of additional engineering fees
in the amount of
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$1,109.05; and
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(3) Receipt of a one-year warranty bond in
the amount of
1!
$33,301.68.
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NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF
THE CITY OF TAMARAC,
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FLORIDA:
23.
SECTION 1: That the Letter of Credit No.
1405-00300141 posted
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by Montwood, Inc., as Principal, and The First National
Bank of
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Chicago, as Surety, in the amount of $102,732.50
to guarantee public
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improvements at Cypress at Woodmont III, Tracts
68/77, is HEREBY
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RELEASED, subject to:
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(1) Developer providing TV inspection of the
sanitary sewer
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system and satisfactory completion of
remedial repairs
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before August 16, 1982;
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- (2) Payment of additional engineering fees
in the amount of
1 0
$1,109.05; and
.,
A.
(3) Receipt of a one-year warranty bond in
the amount of
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$33,301.68.
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SECTION 2: That if the conditions as enumerated
in Section 1
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above are not completed by August 16, 1982, and
if the Letter of Credit
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is not extended because of these unfulfilled conditions,
then the
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proper City officials are hereby authorized and
directed to call said,
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as
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16
77
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Letter of Credit.
SECTION 3: This Resolution shall become effective upon passage.
PASSED, ADOPTED AND APPROVED this09;� day of 1,e, 1982.
ATTEST:
ASSISTANI'GZTY CLERK
I HEREBY CERTIFY that I have MAYOR,
approved tVfoand correct-
ness of thLUTION. DISTRICT
DISTRICT
C I T O R Nn DISTRICT
DISTRICT
MAYOR
RECORD OF COUNCIL VOTE