R97-155~:mS-On~TTO~r NO. R97-/~'~'
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING THE RELEASE OF LETTER OF
CREDIT NO. M373914 ISSUED BY BARNETT
BANK, N.A~ TO WEAVER DEVELOPMENT
CORPORATION, SAID lETTER OF CREDIT BEING
ISSUED IN THE AMOUNT OF $5,000.00; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, on October 29, 1993, Barnett Bank, N.A.
previously issued Letter of Credit No. M373914 to Weaver
Development Corporation to guarantee completion of
improvemenns to the property known as Cypress Creek
Development in Boynton Beach, Florida; and
WHEREAS, the letter of credit w~s issued in the amount
of Five Thousand ($5,000.00) Dollars as surety to guarantee
completion of the improvements; and
WHEREAS, according to city staff, the project has been
completed and has exhibited no defects.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commissmon of the City of
Boynton Beach, Florida, based upon the recommendation of
staff, hereby approves the release of Letter of Credit No.
M373914, issued by Barnett Bank, N.~A. on October 29, 1993 in
the amount of $5,000.00, for required improvements being
made by Weaver Development Corporation in the Cypress creek
Development.
Section 2. That this Resolution
effective immediately upon passage.
shall become
PASSED AND ADOPTED this
day of September, 1997.
__ _/~~CITY~ Mayo~__OF BOYN~ON B,~_ FLORIDA
,~m c'~ Mayor