HomeMy WebLinkAboutCC Res 5505 2006-10-23
RESOLUTION NUMBER 5505
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH AUTHORIZING THE REDUCTION OF SECURITY
BONDS FOR WL HOMES, LLC, HELLMAN RANCH TRACT NO,
15402
WHEREAS, the City Engineer has provided certification to the City Council of the City
of Seal Beach that a portion of the public improvements and other improvements for the
WL Homes, LLC, Hellman Ranch Tract No. 15402, City of Seal Beach, State of
California have been completed and recommends the reduction in the security bonds
posted by WL Homes, LLC that guarantees the installation of those public improvements
and other improvements.
I
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Seal Beach
that the security bonds posted by WL Homes, LLC to guarantee the installation of public
improvements and other improvements for the Hellman Ranch Tract No. 15402, in the
City of Seal Beach, State of California, be reduced as follows:
1. Faithful Performance Bond No. 422012 in the amount of $3,995,000.00 provided
by Rohm Insurance Agency be reduced to $1,997,500.00.
2. Labor and Materials Bond No. 422012 in the amount of $3,995,000.00 provided
by Rohm Insurance Agency be reduced to $1,997,500.00.
BE IT FURTHER RESOLVED by the City Council of the City of Seal Beach that the
following bonds posted by WL Homes, LLC to provide for repair of defective work and
the installation of survey monuments for the Hellman Ranch Tract No. 15402, in the City
of Seal Beach, State of California, shall remain in full effect as follows:
1. Warranty Bond No. 422013 in the full original amount of $998,750.00 provided
by Rohm Insurance Agency to remain in full effect.
I
2. Monument Bond No. 422012 in the full original amount of $27,000.00 provided
by Rohm Insurance Agency to remain in full effect.
PASSED, APPROVED AND ADOPTED by the City Council of the City of Seal Beach
at a meeting thereof held on the 23rd day of October ,2006.
AYES: councilmembers~,~{~ '~~1 ~
NOES: Councilmembers ~
ABSENT: Councilmembers ~
\
.' I
. ,
~~~
Mayor
STATE OF CALIFORNIA
COUNTY OF ORANGE
CITY OF SEAL BEACH
)
) SS
)
I
I, Linda Devine, City Clerk of the City of Seal Beach, California, do hereby certify that
the foregoing resolution is an original copy of Resolution Number 5505 on file in the
Office of the City Clerk, passed, approved and adopted by the City Council of the City of
Sea! Beach at a meeting thereofheld on the 23rd day of October , 2006.
~t~ {J~
Clt Clerk
RESOLUTION NUMBER 5505
I
CITY OF SEAL BEACH
CITY ENGINEER CERTIFICATION AND RECOMMENDATION
FOR REDUCTION OF SECURITY BONDS WIDCH GUARANTEE
INSTALLATION OF SUBDIVISION PUBLIC IMPROVEMENTS
AND OTHER IMPROVEMENTS FOR WL HOMES, LLC,
HELLMAN RANCH TRACT NO. 15402
I, Mark K. Vukojevic, City Engineer for the City of Seal Beach, do herby certifY that fifty
percent (50%) of the subdivision public improvements and other improvements related to
WL Hornes, LLC, Hellman Ranch Tract No. 15402, City of Seal Beach, State of
California, which tract is located on the westerly side of Seal Beach Boulevard at Heron
Pointe (Forrestal Lane), have been completed in a satisfactory manor.
I therefore recommend that the security bonds posted by WL Homes, LLC to guarantee
installation of public improvements and other improvements for the Hellman Ranch Tract
No. 15402 in the City of Seal Beach, State of California, be reduced as follows:
I
1. Faithful Performance Bond No. 422012 in the amount of $3,995,000.00 provided
by Rohm Insurance Agency be reduced to $1,997,500.00.
2. Labor and Materials Bond No. 422012 in the amount of $3,995,000.00 provided
by Rohm Insurance Agency be reduced to $1,997,500.00.
I additionally recommend that the fol1owing bonds posted by WL Homes, LLC to
provide for repair of defective work and the installation of survey monuments for the
HeUman Ranch Tract No. 15402 in the City of Seal Beach, State of California, shall
remain in fuU effect as follows:
1. Warranty Bond No. 22013 in the full original amount of $998,750.00 provided by
Rohm Insurance Agency to remain in full effect.
2. Monument Bond No. 22012 in the full original amount of $27,000.00 provided by
Rohm Insurance Agency to remain in full effect.
~ '. . ~
. J J
. ,
CERTIFIED this \....~2:3 r-,)., . / day of
~''':''j;-
{}c..hlo(r
,2006
I
Signed:
Marf(~Licity ~n~ineer
City of Seal Beach
2