R99-033RESOLUTION NO. R99~.~
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING A REDUCTION IN THE IN SURETY
FOR THE PROJECT KNOWN AS HAMPTON LAKES,
FROM $450,200 to $25,000; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, the developer of this parcel, which is located
outside of the city limits, previously submitted a surety in
the amount of $450,200.00, to assure the construction of
water and sewer improvements to service the development; and
WHEREAS, the water system is now completed and all
necessary legal documents have been presented to the City
and developer has requested that the surety requirement be
reduced to $25,000.00; and
WHEREAS, a final inspection has been conducted on this
project and the system appears to be functioning properly
without any defects;
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 reduction of surety from
$450,200.00 to $25,000.00.
Section 2. That this Resolution shall become
effective immediately upon passage.
PASSED AND ADOPTED this
ATTEST:
C~y Clerk '-
day of March, 1999.
CITY OF BOYNTON BEACH, FLORIDA
,/ Vice Mayor
[4ayor Pro-Te~ ' -
Commi s s i one~r
Commi s sioner