R92-156RESOLUTION NO. 92-156
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
APPROVING THE REDUCTION OF THE
IRREVOCABLE LETTER OF CREDIT NO. 702443
IN THE AMOUNT OF $491,694.75 FOR THE
PROJECT KNOWN AS CARRIAGE HOMES OF
CONGRESS LAKES; AND PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Boynton
~each, Florida, upon recommendation of staff, authorizes
reduction of the Irrevocable Letter of Credit for the
project known as Carriage Homes of Congress Lakes as
follows:
Oriqinal Am't
~urvey $ 2,500.00
Water/Waste-
water 342,872.00
Lighting 112,000.00
Recreation 386,340~00
Off-site 26~272.75
Release Am't Retained Am't
$ 2,500.00 -0-
248,582.00
84,000.00
i36,340.00
20,272.75
$ 94~290.00
28,000.00
250,000.00
6,000.00
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
~each, Florida, hereby approves the reduction of the Irrevocable
Letter of Credit No. 702443 for Carriage Homes of Congress Lakes,
according to the recommendation of staff as outlined above.
Section 2. This Resolution shall become effective
immediately upon passage.
PASSED AND ADOPTED this /~- day of September, 1992.
~TTEST:
CiTY OF BOYNTON BEACH, FLORIDA
Mayor
(Corporate Se~l)
Cat,Homes
Bnd..Red~
9/15/92