Release of Bonds - Tract Map 45785 - Box 059TO:
FROM:
DATE:
RE:
FRANK G. TRIPEPI, CITY MANAGER
ALFONSO RODRIGUEZ, CITY ENGINEER
NOVEMBER 6, 1990
RELEASE OF BONDS - TRACT MAP NO. 45785
7507-7533 MELROSE AVENUE, 2461 JACKSON AVENUE
A Faithful Performance Bond and a Labor and Material Bond was
required to guarantee construction of a new public street, and
street, storm drain, sewer and waterline improvements. The Faithful
Performance Bond is in the amount of $316,000 and the Labor and
Material Bond is in the amount of $158,000. A Bond in the amount of
$25,300 was required to guarantee construction of deferred
monumentation.
The City Engineer has inspected the improvements and monuments 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 Bonds for the Public Improvements and Deferred
Monumentation for Tract Map No. 45785.
AR:js
Attachment
A:111390j(4)
I
COUNCIL AGENDA
NOV 1 3 1990
ITEM No. Ce --F