Resolution No. 86-51 CITY OF TIGARD, OREGON
RESOt_U_f ION NO. 86- r")/
RESOLUTION OF THE TIGARD CITY COUNCIL CONDITIONALLY ACCEPTING THE PUBLIC
STREET AND SEWER IMPROVEMENTS KNOWN AS THE BEAVER BOLT STREET AND SEWER
IMPROVEMENT SUBJECI- TO A ONE YEAR GUARANTEE PERIOD.
WHEREAS, the City issued a street opening permit dated August 23rd, 1985, with
B.B.I. Investments to install half street "improvements and a public sanitary
sewer line and appurtenances thereto, to specified standards; and
WHEREAS, the City's usual procedure is that:
"Upon receipt of certification by the Department of Community
Development that all requirements have been met and a One Year
Maintenance Bond, the City Council. agrees to accept the public
improvements, subject to the requirement for correction of
deficiencies and maintenance for at period of one year. . .; and
WHEREAS, the Community Develop-ent Department has now issued such
certification and;
WHEREAS, the Petitioner oas indicated a desire to retain a portion of the
existing Letter- of Commitment performance bond, in full force and effect
throughout the aforesaid maintenance period, in lieu of submitting a separate
w- maintenance bond; said portion to be $2,400.00 which is specified therein said
Bond to as,,iure continued maintenance and freedom from defects;
NOW, TV1EREFORE, BE IT RESOLVED by the Tigard City Council that:
The Tigard City Council hereby accepts the public improvement known as the
Beaver Bolt Street and Sewer Improvement;
SUBJECT TO, the normal one year guarantee period and, also, submittal of one
as-built sanitary sewer mylar.
AND FURTHER, the City Council herein authorizes the Mayor and Deputy City
Recorder to execute a letter in the City's behalf releasing that portion of
the previously submitted performance bond which is not required to be
retained; said releasable sum being nine thousand six hundred dollars
($9,600.00).
PASSED: This L` day of 1986.
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Clx�y'n? City of Tigard
ATTEST•
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Deputy City Recorder - City of Tigard
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RESOLUTIt*N NO. 86-
Page 1
April 21, 1966 CIWOFTWARD
WASHINGTON COUNTY,OREGON
B.B.I. Investments
16110 S.W. 72nd Avenue
Portland, OR 97223
Re: Beaver Bolt Street 6 Sewer Project
Gentlemen:
in the matter of the Twelve thousand ($12,000.00) dollar Performance guarantee t
between B.B.I. Investments and Pacific Western Bank anti the City of Tigard,
Oregon. this is to serve as a lctter of authorization to allow Pacific Wfestern
Bank to release to B.B.I. Investments a portion of the deposit entrusted to
said Dark.
The amount Hereby authorized to be released is Nine thousand six hundred
($9.600.07) dollars.
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City of Tigard, Oregon
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- _ 12755 S.W.ASH P.O.BOX 23397 TIGARD,OREGON 97223 ?H:F34d 4?: "--""------ •-'j
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