1990/03/27 City Council ResolutionWHEREAS, The City of Rohnert Park did enter into a Subdivision Agreement
dated May 25, 1988, with Oceanis, a Partnership, covering the scope of work and
installation of public improvements in a subdivision known as Spreckels Place
Unit 1, and
WHEREAS, Oceanis did post improvement securities with the City of Rohnert
Park in the total amount of $750,000 each to secure the faithful performance of
the work, and the installation of the labor and materials and the payment of
laborers and materialmen doing work at the job site or causing labor and
materials to be installed in the subdivision as follows:
Performance Bond $ 750,000
Labor & Materials Bond $ 750,000
Maintenance Bond $ 75,000
WHEREAS, the City Engineer of the City of Rohnert Park has recommended
that all of the public improvements within the Subdivision be accepted.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Rohnert Park
that it does hereby accept the installation of the public improvements, and
authorizes the City Clerk of the City of Rohnert Park to release the securities
posted by the subdivider to secure faithful performance and payment for labor
and materials for the work, to wit, Insco/Dico Performance Bond and Payment Bonds
No. 9596249, dated May 25, 1988, in the sums of $750,000 each, and
BE IT FURTHER RESOLVED by said Council that the security posted by the
Subdivider for the maintenance of said improvements, to wit, Insco/Dico
Maintenance Bond No. 9596245, dated May 25, 1988, in the ammount of $75,000,
shall remain in effect and shall be released one year from the date of this
resolution.
DULY AND REGULARLY ADOPTED this 27th day of March, 1990.
ATTEST
1
CITY OF ROHNERT PARK
Al
Mayor
AYE ECK AYE HOPKINS AYE SPIRO AYE HOLLINGSWORTH AYE