R01-030RESOLUTION NO. R 01-~1~
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, AUTHORIZING
A FULL RELEASE OF THE SURETY (LETTER OF
CREDIT Sl17969) FOR HOME DEPOT EXPO IN THE
AMOUNT OF $54,498.35; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, Home Depot Expo placed a letter of credit No. Sl17969 from First
Union Bank in the mount of $54,498.35, as a guarantee that the water and sewer systems
serving that project would be fully completed; and
WHEREAS, those systems have been completed and accepted by the City Utilities
Department for operation and maintenance; proper bill of sale and easements have been
provided, and the system has performed satisfactorily throughout the one year warranty
period;
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, based
upon the recommendation of staff, hereby approves a full release of the surety (Letter of
Credit No. SI 17969) for Home Depot Expo, in the amount of $54,498.35.
Section 2. That this Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this ,~¢~ day of February, 2001..
IT:
CITY OD-BOYN~.N B, FC~CH, FLORIDA
Vice Mayor
Commissioner