1991/03/12 City Council Resolution (9)RESOLUTION No. 91- 49
RESOLUTION ACCEPTING SUBDIVISION IMPROVEMENTS AND AUTHORIZING
RELEASE OF SECURITIES,
UJIVERSITY PARK SUBDIVISION UNIT 3
WHEREAS, The City of Rohnert Park did enter into a Subdivision Agreement
dated May 22, 1990, with McBail Company, covering the scope of work and
installation of public improvements in a subdivision known as University Park
Subdivision Unit 3, and
WEREAS, McBail Company did post improvement securities with the City of
Rohnert Park in the total amount of $365,000 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 $ 365,000
Labor & Materials Bond $ 365,000
WEREAS , 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, the American Insurance Company
Performance Bond and Payment Bonds No. 11141369709 dated May 22, 1990, in the
sums of $365,000 each, upon submittal by McBail Company of a Maintenance Bond
in the amount of $36,500, and
BE IT FURTHER RESOLVED by said Council that the security posted by the
Subdivider for the maintenance of said improvements shall remain in effect and
shall be released one year from the date of this resolution.
DULY AND REGULARLY ADOPTED this 12th day of March, 1991.
CITY OF ROHNERT PARK
( P,
CITY
Mayor
AYE HOPKINS AYE REILLY Ly —E SPIRO -81—E ECK AYI-
DePuty C ubcl " AYES: ---L NOES: ---i ABSENT --L ABSTAIN --2—