R01-175RESOLUTION NO. R 01-
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF BOYNTON BEACH, FLORIDA, AUTHORIZING
A FULL RELEASE OF THE SURETY FOR THE PROJECT
KNOWN AS HAMPTON LAKES, AND RETURNING THE
EXISTING LETTER OF CREDIT (VALUED AT $25,000)
FROM SUN TRUST BANK TO THE DEVELOPER; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the surety was placed as a guarantee that the potable water and sanitary
sewer systems serving the project would be satisfactorily completed; and
WHEREAS, all work on these systems has been done, easements have been
furnished and the project has passed all Utilities Department inspections;
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, upon the
recommendation of staff, hereby approves a full release of the surety for the project known as
Hampton Lakes and return of the existing letter of credit (valued at $25,000) from Sun Trust
Bank to the Developer.
Section 2. That this Resolution shall become effective immediately upon passage.
PASSED AND ADOPTED this [ day of May, 2001.
ATTEST:
Commissioner
Commissioner