1979-1128_BELFORD TERRACE_I14_Agenda Report0 0
AGENDA ITEM November 28, 1979
TO: James S. Mocalis, City Manager
FROM: W. D. Murphy, Director of Public Works
SUBJECT: Acceptance of New Maintenance and Fine Grading Bonds,
Tracts 7673, 8485 and 9382, Ortega Highway (Maurer)
SITUATION
The Building and Safety Division has inspected the above-
mentioned tracts and finds that the stage of completion of the
grading warrants a reduction in the amounts of the grading bonds
for that work. Accordingly, the developer has submitted new
Maintenance and Fine Grading Bonds in the amounts stipulated
by the Director of Public Works. These amounts are tabulated
on Exhibit I, attached.
FINANCIAL CONSIDERATIONS
There are no direct costs to the City seen in this action.
ALTERNATE ACTIONS
1. Authorize staff to accept the new Maintenance and Fine
Grading Bonds.
2. Do not authorize staff to accept the new Maintenance and
Fine Grading Bonds.
3. Refer to staff.
RECOMMENDATION
By motion, authorize staff to accept the new Maintenance and
Fine Grading Bonds for Tracts 7673, 8485 and 9382, as shown
on Exhibit I.
Respectfully submitted,
W. D. Murphy
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EXHIBIT I
GRADING BONDS, TRACTS 7673, 8485, 9382
1. Existing Grading Bonds
Bonding Company: Covenant Mutual Insurance Company
Tract
Bond No.
Amount
7673
006378
$355,070
8485
006379
379,789
9382
006380
530,885
2. New Maintenance and Fine Grading Bonds
Bonding Company: Covenant Mutual Insurance Company
Tract
Bond No.
Amount
7673
009099
$ 35,000
8485
009200
38,000
9382
009098
160,000
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