R96-077RESOLUTION NO. R96-77
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, AUTHORIZING
ACCEPTANCE OF A SURETY BOND FROM THE DEVELOPER
OF THE ISLES OF HUNTER'S RUN IN LIEU OF A
LETTER OF CREDIT; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the City has heretofore approved a settlement
agreement with Summit Properties which, in part facilitates the
development of the Isles of Hunter's Run single family home
development; and
WHEREAS, the developer has requested authorization to post
a surety ~bond in lieu of a letter of credit to insure completion
of the subdivision improvements;
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 authorize the acceptance of a surety
bond in lieu of~a letter of credit to insure completion of the
subdivision improvements for the Isles of Hunter's Run
development, provided the form of surety is approved by the City
Engineer and City Attorney.
Section 2. That this Resolution shall become effective
immediately upon passage.
PASSED AND ADOPTED this ~ day of June , 1996.
CITY OF BOYNTON BEACH, FLORIDA
Mayor
ATTEST:
Mayor Pro Tem
Commissioner ~
CitI~ Clerk