1990/05/08 City Council Resolution (4)I
RESOLUTION ACCEPTING SUBDIVISION IMPROVEMENTS AND AUTHORIZING
RELEASE OF SECURITIES, SPRECKELS PLACE UNIT 3
WHEREAS, The City of Rohnert Park did enter into a Subdivision Agreement
dated February 2, 1989, with Oceanis, a Partnership, covering the scope of
work and installation of public improvements in a subdivision known as
Spreckels Place Unit 3, and
WHEREAS, Oceanis did post improvement securities with the City of
Rohnert Park in the total amount of $916,000 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 $ 916,000
Labor & Materials Bond $ 916,000
Maintenance Bond $ 91,600
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. 9735075, dated February 2, 1989, in the sums of $916,000
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. 9735075, dated February 2, 1989, in the amount of
$91,600, shall remain in effect and shall be released one year from the date
of this resolution. ^99A9
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CITY OF ROHNERT PARK
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