HomeMy WebLinkAboutCity of Tamarac Resolution R-81-228Introduced
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CITY OF TAMARAC, FLORIDA
RESOLUTION NO. R-��
A RESOLUTION RELEASING A PERFORMANCE BOND
POSTED FOR PUBLIC IMPROVEMENT'S AT WOODNKXVT
TRACT 57 PROJECT; PROVIDING AN EFFECTIVE DATE.
WHEREAS, Montwood, Inc., as Principal,.and The First National Bank of
Chicago, as Surety, has filed with the City an Irrevocable Letter of ,Credit
No. 300282 in the amount of $605,432.00 to guarantee public improvements at
Woodmont Tract 57 Project; and
. WHEREAS, the City Engineer has found that the work has been satisfactorily
completed and has recommended release of said Irrevocable Letter of Credit upon
receipt of a one-year warranty bond in the amount of $151,358.00.
NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF TAMARAC, FLORIDA:
SECTION 1: That the Irrevocable Letter of Credit No. 300282 posted by
M ontwood, Inc., as Principal, and The First National Bank of Chicago, as Surety,
in the amount of $605,432.00, for public improvements at Woodmont Tract 57 Project,
is HEREBY RELEASED, subject to receipt of a one-year warranty bond in the amount of
$151,358.00.
SECTION 2: This Resolution shall become effective immediately upon adoption.
PASSED, ADOPTED AND APPROVED this ay of 1981.
i
s—
MAYO
ATTEST:
A SISTANT CITY CLERK
I HEREBY CERTIFY that I have approved MAYOR:
the form and .correctness of this DISTRICT
RESOLUTION.
-- DISTRICT
A _ �`1 �{'' =:sir — DISTRICT
C'ITY ATTORNEY
DISTRICT
RECORD OF COUNCIL VOTE