R95-169RESOLUTION NO. R95-/~
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING ACCEPTANCE OF THE LETTER OF
CREDIT NO. M511553, IN THE AMOUNT OF
$193,426.00, ISSUED BY BARNETT BANK, IN
REGARD TO SANTA CRUZ, INC.; AND PROVIDING
AN EFFECTIVE DATE.
WHEREAS, a Letter of Credit, No. M511553 in the amount of $193,426.00 has been
issued by Barnett Bank as surety for the completion of water and sanitary sewer main
improvements as shown in construction plans prepared by Craig A. Smith & Associates
of Florida, Inc., identified as Santa Cruz Water and Sewer Plans Sheets 1-8, Project No.
941649, dated July 27, 1995 and approved July 28, 1995, said Letter of Credit being
attached hereto as Exhibit "A".
WHEREAS, the City Commission of the City of Boynton Beach, Florida, upon
recommendation of staff, hereby authorizes the acceptance of the Letter of Credit No.
M511553.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, THAT:
~ The City Commission of the City of Boynton Beach, Florida, hereby
authorizes acceptance of the Letter of Credit No. M511553 in the amount of $193,426.00
has been issued by Barnett Bank as surety for the installation of the required water and
sanitary sewer improvements for Santa Cruz, a copy of which is attached hereto as Exhibit
"All.
This Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this ?~' day of October, 1995.
Vice Mayor ~__~...~
May~/Pro Tern '
Commissioner /
ATTEST:
City'Clerk
L/Credit
Sama C~u~
10/12/95~
Commissioner