81-RR A P~ESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, REDUCING PERFORMANCE BOND FOR
BOYNTON LAKES, PLAT I.
WHEREAS, a request has been received including a break-
down of bonded items and reflecting the percentage of work complete
and
~qIEREAS,
concurred with these amounts and
to reduce the bond accordingly.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THt
CITY OF BO~TON~ BEACH, FLORIDA:
Section 1. The surety bond in the amount of $916,804
)reviously posted with the City in con~unction with Boynton Lakes,
~lat I, is hereby released in lieu of a new Performance Bond being
furnished the City of Boynton Beach in the total amount of $415,114
PASSEO ~ ADOPTED T~IS ~ day of ~ , 19eli
the City Engineer and~irector of Utilities have
have made their recommendations
~TTEST:
D¢~fy City Clerk
CITY OF BOY~TOI~ BEACH, FLORIDA
Mayor
~und i l~f~ ~r
Council Me~ber
(Corp. Seal)
PROPOSED REDUCTION OF SURETY 7/28/81
PAVING & DRAINAGE:
$421,131
303,799
$117,332
Bonded Amount
Work Completed
Remaining + (305.799 x 10%)
~e~a~nage
WATER DISTRIBUTION SYSTEM:
$147,712
$156,714 x 50% Retainage ................ = 78,357
SEWAGE FORCE MAIN & LIFT STATION:
100% Aerial Crossing over LWDD L-19 = 5,000
100% 16" x 16" x 10" Tapping Tee & Valve = 1,200
Lift Station $40,000 x 50% = 20,000
10" Force Main & Valves $36,735 x 50% = 18,367
Gravity Sewer System $187,392 x 20% = 37,478
STREET LIGHTING:
RECREATIONAL FACILITIES:
7,000
100,000
AMOUNT OF NEW SURETY REQUIRED
$415,114