HomeMy WebLinkAboutReso 49-08 Central Pkwy Trffc Sgnl Impr
RESOLUTION NO. 49 - 08
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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PARTIAL RELEASE OF SECURITY FOR TRAFFIC SIGNAL IMPROVEMENTS
AT CENTRAL PARKWAY AND FALLON ROAD
WHEREAS, the Lin Family and the Sierra Land Development Corporation entered into an
Improvement Agreement with the City of Dublin on June 21, 2005, to construct roadway improvements
for Central Parkway - Lockhart Street to Fallon Road and Fallon Road - Central Parkway to Bent Tree
Drive, including traffic signals on Central Parkway at Lockhart Street and at Fallon Road, in accordance
with the approved plans; and
WHEREAS, the roadway improvements associated with Central Parkway - Lockhart Street to
Fallon Road and Fallon Road - Central Parkway to Bent Tree Drive, and the traffic signal improvements
for the Central ParkwayILockhart Street intersection were accepted by the City Council on November 21,
2006 with Resolution No. 218-06; and
WHEREAS, the improvements for the traffic signal at Central Parkway/Fallon Road are partially
completed in accordance with said plans, and any approved modifications thereto, to the satisfaction of the
City Engineer; and
WHEREAS, the traffic signals improvements for the Central Parkway/Fallon Road intersection
are not fully completed at the request of the City; and
WHEREAS, the Performance Bond, and the Labor and Materials Bond can be partially released,
in accordance with the authority contained in S66499. 7 of the Government Code of the State of California;
NOW, THEREFORE, BE IT RESOLVED that:
1. The Performance Bond issued by Developers Surety and Indemnity Company dated June 1,
2005 (Bond No. 720007S) in the amount of $310,000.00 for the traffic signal
improvements be reduced to an amount of $80,000; and
2. The Labor and Materials Bond issued by Developers Surety and Indemnity Company dated
June 1, 2005 (Bond No. 720007S) in the amount of $310,000.00 for the traffic signal
improvements be reduced to an amount of $80,000.
PASSED, APPROVED AND ADOPTED this 1 st day of April, 2008, by the following vote:
AYES: Councilmembers Hildenbrand, Oravetz, Sbranti and Scholz, and Mayor Lockhart
NOES: None
ABSENT: None
ABSTAIN: None
Aa:6tP
Deputy City Clerk