1979-1128_BELFORD TERRACE_I16_Agenda ReportAGENDA ITEM November 28, 1979
TO: James S. Mocalis, City Manager
FROM: W. D. Murphy, Director of Public Works
SUBJECT: Acceptance of New Bonds and Release of Public
Improvement Bonds, Tracts 7673, 8485 and 9382
Omega Highway (Maurer)
SITUATION
Maurer -Elliott Construction Company is requesting that staff accept
portions of the public improvements in the subject tracts. Staff
recommends approving this request due to the growth management
phasing of the tracts. The improvements to be accepted have been
completed and accepted by inspection personnel.
The process to release these bonds will include accepting new bonds
to cover those improvements to be completed in the future. It should
be clarified that the labor and material bonds are being released,
but the performance bonds, insuring quality of materials and con-
struction, will still be held.
FINANCIAL CONSIDERATIONS
The labor bonds to be released an, accepted are tabulated below:
Tract Release Bond No.
7673 006245 $ 538,572
8485 006248 663,624
9382 006251 521,927
ALTERNATE ACTIONS
Accept Bond No.
006245-A
$ 80,000
006248-A
132,724
006251-A
156,000
1. Accept the improvements and release the existing bonds.
2. Do accept the improvements.
3. Refer the matter to staff for revision.
RECOMMENDATION
By resolution, determine that certain portions of the public improve-
ments in Tracts 7673, 8485 and 9382 have been completed and declare
the work to be accented; direct staff to file a Notice of Completion
with the Orange County Recorder within ten days from date of
acceptance.
FOR CITY COUNCIL AGENDA ..j, ..... •
0 so
Acceptance of Improv*-nt Bonds -2- Noonber 28, 1979
Tracts 7673, 8485 & 9382
By motion, require an extension of the faithful performance bond
for the public improvements being accepted to November 28, 1980,
and direct staff to accept new labor and material bonds for the
work remaining to be completed in Tracts 7673, 8485 and 9382 and
to release the: LSU sting labor and material bonds upon the expir-
ation of thirty-five days from the date the Notice of Completion
is filed.
Respectfully submitted,
W. D. Murphy
WDM:GML/rem
Encls.