1990/02/13 City Council Resolution (11)RESOLUTION NO. 90 -35
RESOLUTION ACCEPTING PUBLIC IMPROVEMENTS AND AUTHORIZING
THE RELEASE OF BONDS FOR UNIVERSITY PARK SUBDIVISION
UNIT 1
WHEREAS, the City Engineer has advised the City Council that
all public improvements within University Park Subdivision Unit
No. 1, City of Rohnert Park, State of California, have been
completed in a satisfactory manner.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of
Rohnert Park that all public improvements within University Park
Subdivision Unit No. 1, in the City of Rohnert Park, be and the
same are hereby accepted and the Performance Bond and the Labor &
Materials Bond No. 11132655363, both from American Insurance
Company and both in the amount of $1,500,000.00 as supplied by
McBail Company to insure completion of said improvements, be and
the same are hereby exonerated and released one year from the
date of this resolution or upon receipt by the City Manager.
1. A maintenance bond in the amount of $150,000.00 which
is to remain in effect for one year from the date of
this resolution.
1990. DULY AND REGULARLY ADOPTED this 13th day of February - - -I