1991/03/12 City Council Resolution (8)RESOLUTION NO. 91- 50
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ESOLUTION ACCEPTING SUBDIVISION IMPROVEMENTS AND AUTHORI2ING
RELEASE OF SECURITIES,
SPRECKELS PLACE SUBDIVISION UNIT 4
WHEREAS, The City of Rohnert Park did enter into a Subdivision Agreement
dated April 6, 1989, with Oceanis, a partnership, covering the scope of work
and installation of public improvements in a subdivision known as Spreckels
Place Subdivision Unit 4, and
WHEREAS, by Resolution No. 90-42, dated February 27, 1990, Council did
accept the improvements on the southerly half of the subdivision, and
authorized substitution of bonds for a reduced amount, and
WHEREAS, Oceanis did post improvement securities with the City of
Rohnert Park in the total amount of $240,000 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 $ 240,000
Labor & Materials Bond $ 240,000
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, the Developers Insurance Company
Performance Bond and Payment Bonds No. 9737985 dated March 23, 1990, in the
sums of $240,000 each, and
BE IT FURTHER RESOLVED by said Council that the security posted by the
Subdivider for the maintenance of said improvements, to wit, Developers
Insurance Company Maintenance Bond No. 973798S dated April 6, 1989, in the
amount of $70,000, shall remain in effect and shall be released one year from
Cher date of this resolution.
DULY AND REGULARLY ADOPTED this 12th day of March, 1991.
ATTEST:
CITY OF ROHNERT PARK
Mayor
AYE HOPKINS -ALEL REILLY AYE SPIRO -AU ECK --&Y E
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