HomeMy WebLinkAboutAGENDA REPORT 1994 1005 CC REG ITEM 08V •
7/2. 0 (F'
ITEM • Vb
AGENDA REPORT
CITY OF MOORPARK
TO : THE HONORABLE CITY COUNCIL
FROM : DIRK LOVETT, ASSISTANT CITY ENGINEER
DATE : SEPTEMBER SEPTEMBER 22 , 1994 (CC MEETING OF OCTOBER 5, 1994 )
SUBJECT : EXONERATION OF THE STORM DRAIN AND GRADING BOND
FOR THE MISSION BELL PLAZA
BACKGROUND:
The Mission Bell Plaza is located north of Los Angeles Avenue
between Park Lane and Liberty Bell Road.
The on-site storm drain system and grading have been completed in
accordance with the approved plans . All related items for the
project have been completed. All conditions for the release of the
securities have been met .
It is therefore appropriate to accept the improvements covered by
bond #3SM777445 (American Motorist Ins . ) in the amount of
$127 , 520 . 00 and bond #3SM777443 (American Motorist Ins . ) in the
amount of $25, 885 . 00 as complete, and to exonerate the bonds .
Other Bonds:
A recap of the status of all bonds for this project and the
recommended action is as follows :
Current Recommended Reduced
Item Type Bond # Surety Company Status Action Amount (S)
A St Drain. #3MS777445 American Motorist Ins $127,520 exonerate --
B Grading #3MS777443 American Motorist Ins $25,885 exonerate --
C Monument #3SM777446 American Motorist Ins $4,784 No Action --
D S Center #3SM777444 American Motorist Ins $10,000 No Action --
RECOMMENDATION:
1 . Accept the on-site storm drain and grading improvements for
Mission Bell Plaza (Tract 4757-1) as complete.
2 . Authorize the City Clerk to exonerate the aforementioned bonds .
CC: City Manager; Deputy City Manager; Department Heads
BOND EX #3MS777445,#3MS777443
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