1991/03/12 City Council Resolution (7)RESOLUTION NO. 91-51_
RESOLUTION ACCEPTING SUBDIVISION IMPROVEMENTS AND AUTHORIZING
RELEASE OF SECURITIES,
SPRECKELS PLACE SUBDIVISION UNIT 5
WHEREAS, The City of Rohnert Park did enter into a Subdivision Agreement
dated May 22, 1990, with Oceanis, a partnership, covering the scope of work
and installation of public improvements in a subdivision known as Spreckels
Place Subdivision Unit 5, and
WHEREAS, Oceanis did post improvement securities with the City of
Rohnert Park in the total amount of $845,000 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 $ 845,000
Labor & Materials Bond $ 845,000
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 RESOLNED 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. 9934645 dated May 9, 1990, in the sums
of $845,000 each, upon submittal by Oceanis of a Maintenance Bond in the
amount of $84,500, 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 then date of this resolution.
DULY AND REGULARLY ADOPTED this 12th day of March, 1991.
ATTEST:
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Mayor
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