R98-096 RESOLUTION NO. R98-~
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING THE REDUCTION OF EXISTING
SURETY FOR THE PROJECT KNOWN AS THE
HAMPTON INN PROJECT FROM $56,100 TO
$2,800.00; AND PROVIDING AN EFFECTIVE
DATE.
WHEREAS, the City currently holds' surety mn the amount of
$56,100.00, for the project known as The Hampton Inn from the
current level of $56,100.00 doWn to $2,800.00, this amount
being retained for one year as a warranty on the water and
sewer system; and
WHEREAS, the project is predominantly complete, and the
City has received a bill of sale and easements for the water
and sewer systems;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COM~ISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commission of the City of Boynton
Beach, Florida, upon recommendation of staff, hereby
authorizes the reduction of existing surety for the project
known as The Hampton Inn Project from the current level of
$56,100.00 to $2,800.00, this amount to be retained for a one
year period as a warranty on the water and sewer system.
Section 2. That this Resolution shall become
effective immediately upon passage.
PASSED AND ADOPTED this ~ day o'f May, 1998.
CITY OF BOYNTON BEACH FLORIDA
Mayor
ATTEST:
Cit~ Clerk
( C o rP ~~ ~.
s:~Re~H~ Surety ~io~ ~
~ O ~O~ %-- ~
~yor Pr?_ Te_~K~_ /
Com~ssioner
Commissioner