File #: 06-1545    Version: 1
Type: Agenda Item Status: Approved
File created: 9/20/2006 In control: Board of Supervisors
On agenda: 9/26/2006 Final action: 9/26/2006
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.
Attachments: 1. Serrano Village G, Unit 10.pdf
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.