File #: 06-1880    Version: 1
Type: Agenda Item Status: Approved
File created: 11/28/2006 In control: Board of Supervisors
On agenda: 12/5/2006 Final action: 12/5/2006
Title: Transportation Department recommending the following pertaining to The Promontory Village No. 5, Unit 1 (TM 98-1356-5): (1) Accept the subdivision improvements as complete; (2) Reduce Performance Bond No. 08744699 by $2,220,482.10 to $394,032.73 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 previously posted Laborers and Materialsmen Bond No. 08744699 in the amount of $1,970,163.67 to guarantee payment to persons furnishing labor, materials or equipment and release six months after acceptance if no claims are made. RECOMMENDED ACTION: Approve.
Attachments: 1. The Promontory Village No. 5, Unit 1.pdf
Title
Transportation Department recommending the following pertaining to The Promontory Village No. 5, Unit 1 (TM 98-1356-5):
(1)      Accept the subdivision improvements as complete;
(2)      Reduce Performance Bond No. 08744699 by $2,220,482.10 to $394,032.73 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 previously posted Laborers and Materialsmen Bond No. 08744699 in the amount of $1,970,163.67 to guarantee payment to persons furnishing labor, materials or equipment and release six months after acceptance if no claims are made.
RECOMMENDED ACTION: Approve.