https://eldorado.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=272235&GUID=63C3717B-942C-4668-8815-EE054EE7793FLegistar15https://eldorado.legistar.com/Gateway.aspx?M=LD&From=RSS&ID=272235&GUID=63C3717B-942C-4668-8815-EE054EE7793F63C3717B-942C-4668-8815-EE054EE7793F-2020-09-03-22-33-10Title: Transportation Department recommending the following pertaining to Serrano Village J3A, Unit 2 Subdivision: (1) Accept the subdivision improvements as substantially complete; (2) Reduce Performance Bond 929374851-01 by $426,222.58 to $406,405.97 to guarantee against any defective work, labor done, or defective materials furnished and release one year after acceptance if no claims are made; and (3) Hold Laborers and Materialmen Bond 929374851-01 in the amount of $2,032,029.83 to guarantee payment to persons furnishing labor, materials or equipment and release in six months after acceptance if conditions are met. RECOMMENDED ACTION: Approve.Thu, 03 Sep 2020 22:33:10 GMT