Release of Bonds - Parcel Map 22124 - Internal File 059TO: FRANK G. TRIPEPI, CITY MANAGER
FROM: ALFONSO RODRIGUEZ, CITY ENGINEER
DATE: NOVEMBER 3, 1992
RE: RELEASE OF BONDS - PARCEL MAP NO. 22124
4421,28,30 & 31 ROCKHOLD AVENUE.
A Faithful Performance Bond and a Labor and Material Bond was required to guarantee
construction of street improvements, sanitary sewers, drainage and other related facilities,
required for the development of the subject parcel map. The Faithful Performance Bond
is in the amount of $59,400 and the Labor and Material Bond is in the amount of $29,700.
The City Engineer has inspected the improvements and has found them to be constructed
satisfactorily. The attached map indicates the location of the tract.
RECOMMENDATION
It is recommended that the City Council
1. Accept the public improvements.
2. Release the performance bond in the amount of $59,400 for the public improvements
for Parcel Map No. 22124. The Labor and Material Bond of $29,700 will remain in
effect for an extended period of time as required by state statutes.
Attachment
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COUNCIL AGENDA
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ITEM No. Cif-4