HomeMy WebLinkAboutAGENDA REPORT 1998 0107 CC REG ITEM 10ETo:
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Date:
AGENDA REPORT
CITY OF MOORPARK
The Honorable City Council
Dirk Lovett, Assistant City Engineer
Prepared By Jim Colton, Associate Civil Engineer
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CITY OF MOORPARK, CALIFORNUI
City Council Meeting
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ACTION:
December 17,1997 (Council Meeting of January 7, 1997)
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Subject: Consider releasing Surety Bond No. 43377635S for the stockpile work
located at the North West Corner of Tierra Rejada and Spring Road
(Marketplace Properties)
BACKGROUND
On March 19, 1997 the City Council authorized the applicant to import and stockpile
roughly 15,000 yards of soil from the Carlsberg property. Marketplace Properties
submitted to the City, a Surety Bond in the amount of $35,000.00, as a condition of the
grading permit, to allow for all import and stockpile grading. This bond was to be held
until all grading on the site was complete.
All grading associated with the stockpile has been inspected and approved by City
Engineering. On October 31, 1997 the applicant obtained approval of their ultimate
grading plan and received a grading permit for this work. Another surety bond in the
amount of $67,000 was submitted to the City. This new surety was for the over
excavation and recompaction of the stockpile material as well as all other ultimate site
grading and drainage improvements. It is the applicant's request that the new bond of
$67,000 replace the previous bond of $35,000 and that the $35,000 bond be exonerated.
It is the City Engineering Department's opinion that the new bond is sufficient surety to
protect the City and that it is appropriate to release the $35,000 bond.
RECOMMENDATION
Authorize the City Clerk to release Surety Bond No. 43377635S to Marketplace
Properties in the amount of $35,000.
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