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R00-053 RESOLUTION NO. R00-~ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA, AUTHORIZING A REDUCTION IN THE CASH SURETY POSTED BY KIMMEL CONSTRUCTION CORP., FOR WATER IMPROVEMENTS FOR THE PROJECT KNOWN AS STANTON MAGNETICS; AND PROVIDING AN EFFECTIVE DATE. ~EREAS, the developer of this parcel, previously a Cash Bond in the amount of $27,645.20 as surety to Iuarantee water improvements at the project known as Stanton Magnetics, located at 2700 Quantum Boulevard; and ~-~EREAS, the water system serving this project has been completed to the City Utility Departments' satisfaction and the system has passed its final inspection; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION THE CITY OF BOYNTON BEACH, FLORIDA, T~AT: Section 1. The City Commission of the City of Beach, Florida, based upon the recommendation of staff, hereby approves a release of the cash surety posted Kimmel Construction Corp., for water improvements for the 'ect known as ~Stanton Magnetics" in the amount of ,645.20. Section 2. That this Resolution shall become ~ immediately upon passage. PASSED AND ADOPTED this kTTEST: Ci~ Clerk day of April, 2000. / ~_MayozZ ' ViCe Mayo~ Mayor Pro Tem im~i '