1990/10/23 City Council Resolution (6)RESOLUTION NO. go- 236
WHEREAS, The City of Rohnert Park did enter into a Subdivision Agreement
dated July 11, 1989, with Park Estates Partners, covering the scope of work
and installation of public improvements in a subdivision known as Park Estates
Subdivision, and
W[MREAS, Park Estates Partners did post improvement securities with the
City of Rohnert Park in the total amount of $606,000 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 $ 606,000
Labor & Materials Bond $ 606,000
Maintenance Bond $ 60,600
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, Insurance Company of the West
Performance Bond and Payment Bonds No. 112 67 97 dated July 19, 1989, in the
sums of $606,000 each, and
BE IT FURTHER RESOLVED by said Council that the security posted by the
Subdivider for the maintenance of said improvements, to wit, Insurance Company
of the West Maintenance Bond No. 112 67 98, dated July 19, 1989, in the amount
of $60,600, shall remain in effect and shall be released one year from the
date of this resolution.
ABSENT AYE AYE AYE AY1
I -ECK ......®. HOFKINS -SIPAD - HOLLINGSWORTH
Deputy city
AYES NOES ABSENT_..,._I A&STAIN 2