REQUEST FOR CITY COUNCIL ACTION
SUBMITTED TO: Honorable Mayor and City Council Members
SUBMITTED BY: Oliver Chi, City Manager
PREPARED BY: Sean Crumby, Director of Public Works
Subject:
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Approve and accept the Public Improvements, release the Securities for Tract 17661 and accept Guarantee & Warranty Bond
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Statement of Issue:
Bonanni Development & JB Construction, the developer of Tract 17661, has completed construction of all required public improvements and is now eligible to receive a release of securities and bonds, pursuant to the provisions of the Subdivision Map Act.
Financial Impact:
No funding is required for this action.
Recommended Action:
recommendation
A) Accept the improvements constructed and dedicated for public use with Tract 17661, and instruct the City Clerk to record the "Notice of Acceptance of Public Improvements" (Attachment 2) with the Orange County Recorder; and,
B) Accept Guarantee and Warranty Bond No. 4422016W (Attachment 3), the security furnished for guarantee and warranty of public improvements, and instruct the City Clerk to file the bond with the City Treasurer; and,
C) Release the Faithful Performance Bond No. 4422016, Labor and Material Bond No. 4422016 and Monument Bond No. 4422017; and,
D) Instruct the City Clerk to notify Bonanni Development and JB Construction, the developer of Tract 17661, and the City Treasurer to notify SureTec Insurance Company, of these actions.
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Alternative Action(s):
Deny the recommended actions.
Denying the recommended action may violate the Subdivision Map Act whereby:
1. Section 66499.7 of the Government Code requires that the securities given for the faithful performance of constructing the public improvements shall be released upon acceptance of the work.
2. Section 66499.9 of the Government Code, requires the Guarantee and Warranty of the work for a period of one year following completion and acceptance of the improvement, against any defective work, labor,...
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