Title
Transportation Department recommending the following pertaining to Serrano Village G, Unit 10 (TM 01-1375):
(1) Accept subdivision improvements as complete;
(2) Reduce Performance Bond 929347718 by $467,073.67 leaving a balance of $123,400.48 to guarantee against defective work, labor done, or defective materials furnished and release one year after acceptance, if there are no defects or claims made; and
(3) Hold previously posted Laborers and Materialmen Bond 929347718 in the amount of $295,237.08 to guarantee payment to persons furnishing labor, materials or equipment and release in six months after acceptance, if no claims are made.
RECOMMENDED ACTION: Approve.