R03-127
II
RESOLUTION NO. R03- ,~1
A RESOLUTION OF THE CITY OF BOYNTON BEACH,
FLORIDA, AUTHORIZING A FULL RELEASE OF
RESTORATION SURETY IN THE AMOUNT OF
$11,000.00 FOR THE PROJECT KNOWN AS
BOYNTON BEACH MARINA (AIKIA WATERS EDGE
MARINA); AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, in July, 1995 the developer of this parcel, posted cash surety in the
amount of $11,000 for the project then known as Boynton Beach Marina (a/k/a Waters
Edge Marina); and
WHEREAS, the surety represented restoration surety for dredge, fill and
excavation work being done at the above referenced project; and;
WHEREAS, property has changed ownership twice since the posting of this
surety, and the original developer no longer has an interest in the project and has
requested a return of the surety; and
WHEREAS, the City Commission, upon recommendation of staff, deems it
appropriate to authorize a full release of cash restoration surety in the amount of $11,000
to E.S.G. Company, successor in interest to Boynton Beach Marina a/k/a Waters Edge
Marina, Inc..
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,
hereby approves the full release of the cash restoration surety in the amount of $11,000
for the project known as Boynton Beach Marina a/k/a Waters Edge Marina, Inc..
S:\CA \RESO\Letters of Credit\ESG - cash surety release. doc
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Section 2.
That this Resolution shall become effective immediately upon
ipassage.
PASSED AND ADOPTED this ~ day of July, 2003.
ATTEST:
S:\CA\RESO\Letters ofCredit\ESG - cash surety release. doc
CH, FLORIDA
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