HomeMy WebLinkAboutReso 73-08 Braddock & Logan PM 9208
RESOLUTION NO. 73 - 08
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
*********
RELEASE OF BONDS ASSOCIATED WITH PARCEL MAP 9208
(BRADDOCK AND LOGAN)
WHEREAS, the developer of Parcel Map 9208, filed on September 6, 2006, in Book 292 of
Parcel Maps at Pages 16 - 17, previously entered into an Improvement Agreement with the City of Dublin
to improve said Parcel Map in accordance with a bonding exhibit on file with the Public Works Director;
and
WHEREAS, the developer provided a performance bond and a labor and materials bond, each in
the amount of $4,817,880, to guarantee installation of streets and other improvements needed to serve the
four parcels in Parcel Map 9208; and
WHEREAS, on April 15, 2008, the City Council approved the Final Maps for Tracts 7853 and
7854, that encompass three of the four parcels included in Parcel Map 9208, and
WHEREAS, additional bonds were provided with Tracts 7853 and 7854 that provide duplicate
guarantee for the improvements associated with Parcel Map 9208: and
WHEREAS, the bonds associated with Parcel Map 9208 are no longer needed and it IS
appropriate that these bonds be released.
NOW, THEREFORE, BE IT RESOLVED that:
1. The original Performance Bond issued by Insurance Company of the West (Bond No. 218
8118)) in the amount of$4,817,880 be released; and
2. The original Labor and Material Bond issued by Insurance Company of the West (Bond
No. 218 81 18) in the amount of$4,817,880 be released.
PASSED, APPROVED AND ADOPTED this 20th day of May, 2008, by the following vote:
AYES: Councilmembers Hildenbrand, Oravetz, Sbranti and Scholz, and Mayor Lockhart
NOES: None
ABSENT: None
ABSTAIN: None
A2L:[ f~
Deputy City Clerk
Reso No. 73-08, Adopted 5/20/08, Item 4.8
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