R02-181 RESOLUTION NO. R02- ! ~ I
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING A REDUCTION OF A CASH SURt~TY
IN THE AMOUNT OF $10,620.00 TO WOOD
PARTNERS FOR THE ALTA CHASE APARTMENTS
PROJECT, RETAINING THE BALANCE OF $531.00;
AND PROVIDING AN EFFECTIVE DATE.
WHEREAS, cash surety was posted in the amount of $10,620.00 for the
restoration, if needed, in connection with the excavation and fill work at the above
referenced project; and
WHEREAS, all work has been completed and a request for surety reduction has
been received from the Developer, and upon recommendation of staff, the City
Commission deems it appropriate to allow a reduction in the amount of $10,620.00,
leaving a balance of $531.00 or 5% to be retained by the City for the one-year warranty
~eriod;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commission of the City of Boynton Beach, Florida, upon
recommendation of staff, hereby approves the reduction of the cash surety in the
of $10,620.00, to Wood Partners for the project known as Alta Chase
~artments, with the sum of $531.00 (or 5%) to be retained by the City for the one-year
period. Section 2. That this Resolution shall become effective
upon passage.
PASSED AND ADOPTED this g day of November, 2002.
Commissioner
ATTEST:
Commissioner
.,?.',""~i?"""////Z'3 · ·
~~ of Crediff C~ Sure~Rele~e -AI~ Ch~e Apa~en~