R03-097 RESOLUTION NO. R03- ~ 7
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, AUTHORIZING A FULL RELEASE OF
CASH SURETY IN THE AMOUNT OF $9,669.00 TO
THE COLLAGE COMPANIES CONSTRUCTION FOR
THE PROJECT KNOWN AS GALE INDUSTRIES.; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the developer of this project had previously posted cash surety in the
amount of $9,669.00 to guarantee satisfactory completion of the on-site water system; and
WHEREAS, that system has now been completed, all documentation has been
provided, and the systems have operated satisfactorily through the warranty period; and
WHEREAS, the City Commission, upon recommendation of staff, deems it
appropriate to authorize a full release of cash surety in the amount of $9,669.00 to the
developer.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commission of the City of Boynton Beach, Florida, does
hereby approve the full release of the cash surety in the amount of $9,669.00 to The
Collage Companies Construction, for the project known as Gale Industries at Lot 50B,
Quantum Park.
Section 2. That this Resolution shall become effective immediately upon
passage.
S:\CA~RESO\Letters of Credit\Gale Industries - cash surety release.doc
PASSED AND ADOPTED this / ~ ~:~day of June, 2003.
CITY BO T N B ACH, F..LORIDA
./ ~~~~--- ~1 ,,... ~~_
Co~issioner
City Clerk ~~ ~
(c
S:~CA\RESO\Letters of Credit\Gale Industries o cash surety release.doc