Title
Transportation Department recommending the following pertaining to The Promontory Lot N (TM 02-1382) :
(1) Accept Subdivision Improvements as complete;
(2) Hold Maintenance Bond 567766S in the amount of $44,167 to guarantee against any defective work, labor done, or defective materials furnished and release one year after acceptance, if there are no defects or warrantee claims made; and
(3) Hold Laborers and Materialmens Bond 567766S in the amount of $220,838 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.