Release of Bonds - Parcel Map 25305 - Internal File 059d
TO: HONORABLE MAYOR
AND MEMBERS
ROSEMEAD CITY COUNCIL
FROM: FRANK G. TRIPEPI, CITY MANAGER
DATE: APRIL 2, 2001
RE: RELEASE OF BONDS - PARCEL MAP 25305
3535 TEMPLE CITY BOULEVARD
A Faithful Performance Bond and a Labor and Material Bond was required to guarantee
construction of a sewer house lateral. In lieu of bonds, a Certificate of Deposit was issued
to the City in the amount of $3,240.
The City Engineer has inspected the improvements and has found them to be installed
satisfactorily. Attached are the undertaking agreement, required surety, and a map that
indicates the location of the parcel.
RECOMMENDATION
It is recommended that the City Council authorize refund of the Certificate of Deposit,
including accrued interest.
Attachment
2001 rsmd/staff rpt/city
ITEM No.
02001