R90-199RESOLUTION NO.R90-/qq
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOYNTON BEACH, FLORIDA, RELEASING AND/OR REDUCING
PERFORMANCE BONDS AND A LETTER OF CREDIT REGARDING
BOYNTON LAKES P.U.D. (VARIOUS PLATS) AND PROVIDING
AND EFFECTIVE DATE
NOW, T~t~REFORE, BE IT RESOLv~ BY T~t~ CITY COMMISSION OF T~t~ CITY
OF BOYI~fON BEACM, FLOP~IDA, THAT:
Section 1. The City Commission of the City of Boynton Beach,
Florida does hereby release the following Performance Bonds:
A. Performance Bond in the amount of $100,000.00 for earthwork,
~C61-13-036.
B. Performance Bond in the amount of $100,000.00 for recreational
facilities, ~C61-13-035.
Section 2. The City Commission of the City of Boynton Beach,
Florida does hereby reduce the following Bonds and a Letter of Credit:
A. Bond ~C61-13-034 in the amount of $100~000.00 for Boynton Lakes
Boulevard should be reduced to $10,000.00;
B. Bond #C61-13-033 in the amount of $82,929.00 for Plat ~4 should
be reduced to $5,000.00;
C. Bond ~C6i-13-667 in the amount of $625,771.00 for Plat #6 should
be reduced to $43,000.00;
D. Bond #C61-13-668 in the amount of $455,684.00 for Plat ~5 should
be reduced to $250,000.00, and,
passage.
Letter of Credit #21535 in the amount of $322,266.00 should be
reduced to $25~000.00. The original L.0.C. shall be replaced
with a new L.O.C. in the amount of $25,000.00 prior to release of
the original L.O.C.
Section 3. This Resolution shall take effect immediately upon
FASSmD OPTED THIs
(-Corp or at-e- Seal)
Commis si~oner
,1990,