R01-209 RESOLUTION NO. R01- o~Oq
A RESOLUTION OF THE CITY COMMISSION O1: 2~HE
CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING A REDUCTION IN THE LETTER OF
CREDIT ISSUED BY COMERICA BANK ~No. 562451-
04)FOR THE PROJECT KNOWN AS TUSCANY ON
THE INTRACOASTAL (FORMERLY BAY VISTA)
FROM ~;338,580 TO 516.929; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the developer of this parcel, previously submitted a Letter of Credit
a the mount of $338,580 as surety for excavation and fill for this site; and
WHEREAS, the design consultant for the project, Sclmars Engineering
Corporation, has submitted certification that excavation and fill has been completed m
substantial conformance with the approved plans and permits.
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,
based upon the recommendation of staff, hereby approves a reduction of a Letter of
Credit (No. 562451-04)) from $338,580 to $16,929.
Section 2. That this Resolution shall become effective immediately upon
passage.
iTTEST:
PASSED AND ADOPTED this Iq day of June, 2001.
ommissioner
ssioner
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