06-086
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1 ORDINANCE NO. 06- DSb
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3 AN ORDINANCE OF THE CITY COMMISSION OF
4 THE CITY OF BOYNTON BEACH, FLORIDA,
5 AMENDING CHAPTER 7, ARTICLE I, SECTION 2(C)
6 PROVIDING FOR CITY MANAGER APPROVAL OF
7 REDUCTION OF SURETY AND RELEASE OF
8 SURETY UNDER $20,000.00; PROVIDING FOR
9 CONFLICTS, SEVERABILITY, CODIFICATION AND
10 AN EFFECTIVE DATE.
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12 WHEREAS, the City Commission finds that it is unnecessary for the City
13 Commission to review both reduction of surety matters and final release of surety in certain
14 circumstances; and
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WHEREAS,
the City Commission has determined that there are sufficient
16 safeguards in the administrations review of requests for reduction of surety and release of
17 surety when the amount of surety does not exceed $20,000.00; and
18 NOW THEREFORE, IT IS HEREBY ORDAINED BY THE CITY
19 COMMISSION OF THE CITY OF BOYNTON BEACH FLORIDA, THAT:
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Section 1.
The foregoing Whereas clauses are true and correct and incorporated
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herein by this reference.
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Section 2.
Chapter 7, Article I, Section 2(C) is amended as follows:
C. Periodic reduction of surety.
From time to time during progress of the work the developer may request
a reduction in the dollar amount of the surety on the basis of work
completed, but in every case the remaining funds shall be sufficient to
cover 110% of the cost to complete the obligation. In the case of surety
for required improvements associated with subdivision development, five
(5) per cent of the engineer's certified cost of required improvements shall
be retained for one (I) year after acceptance of such improvements by the
City Commission as a guarantee against defects in workmanship and
material. Reduction of suretv shall be approved bv the City Manager
without the necessitv of Commission approval. The final release il'l sllfet)'
of the remaining balaRce of the surety, when the suretv is $20,000.00 or
greater, by lctter of credit or other iHstrument, shall be approved by motion
of the City Commission, with written recommendation by the appropriate
S:\CC\WP\ORDlNANCES\2006\06-086 - Surety reduction approval. doc
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department and/or the City Engineer. Release of surety less than
$20,000.00 shall be bv the City Manager.
Section 3. Each and every other provision of Chapter 7, not herein specifically
5 amended shall remain in full force and effect as previously enacted.
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Section 4.
All ordinances or parts of ordinances in conflict herewith be and the
7 same are hereby repealed.
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Section 5.
Should any section or provision of this ordinance or portion hereof,
9 any paragraph, sentence or word be declared by a court of competent jurisdiction to be
10 invalid, such decision shall not affect the remainder of this ordinance.
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Section 6.
Authority is hereby granted to codify said ordinance.
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Section 7.
This ordinance shall become effective immediately after passage.
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FIRST READING this 8 day of NovembeR.... , 2006.
SECOND, FINAL READING AND PASSAGE this ~ r
November- ,2006.
day of
CITY OF BOYNTON BEACH, FLORIDA
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(C~~RATE SEAL)
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