HomeMy WebLinkAboutAGENDA REPORT 1997 0618 CC REG ITEM 10DTO:
FROM:
DATE:
SUBJECT:
AGENDA REPORT
CITY OF MOORPARK
The Honorable City Council
Dirk Lovett, Assistant City Engineer
Prepared by Chris Oberender, Associate Engineer
June 5, 1997 (Council Meeting June 18, 1997)
ITEMS I d) =•
CM OF U00RA%W CAI ^'ORMA
Chy Council Meeting
Consider the Request for the Exoneration of the Bond for Grading and Street
Improvements in Conjunction with the Burger King Restaurant Development.
Bonds for street improvements and grading were submitted by the developer to the City on
October 22, 1996 for the construction of the Burger King restaurant located at the intersection of
Los Angeles Avenue and Liberty Bell Road. A vicinity map is attached for your reference.
All improvements are complete and the developer is requesting that these bonds be exonerated.
It is therefore appropriate to accept the improvements as complete and reduce the bond to 10%
for a one year period.
TYPE BOND NO. SURETY CO. PRESENT BOND
AMOUNT
Street 3SM88957000 American Motorists $12,579.00
(Performance) Insurance Co.
Street 3SM88957000
(Labor)
Grading 3SM88956900
American Motorists $12,579.00
Insurance Co.
American Motorists $5,000.00
Insurance Co.
RECOMMENDED
REDUCED AMOUNT
$1,258.00 1 `1 , 4t(as (p)
$1,258.00 A`
$500.00 ma.4I(a55
The City Engineer has reviewed the request for exoneration of the bonds and, based on the status
of the improvements, recommends the following action:
1. Accept the improvements as complete.
2. Authorize the City Clerk to reduce the bonds to the 'Recommended Reduced Amount" as
set forth in this report.
WONTV flap
NIGH ST BEET
JOB SITE
538 W. LOS ANGELES AVE. Y
& LIBERTY BELL ROAD
a
0
0
LOS ANGELES AVE
0
a
0
Y
0C
Q
LIBERTY BELL R
0
0
N �
SCALE 1" = 1000'
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