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R99-047 RESOLUTION NO. R99-~ A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOYNTON BEACH, FLORIDA, AUTHORIZING A REDUCTION IN SURETY FOR THE PROJECT KNOWN AS BOYNTON SHOPPES, INC., FROM $87,650 TO $4,400; AND PROVIDING AN EFFECTIVE DATE. WHEREAS, the developer of this parcel previously submitted surety in the amount of $87,650, to assure the construction of water and sewer improvements to service the development known as Boynton Shoppes, Inc.; and WT{EREAS, the water system is now completed and all necessary legal documents have been presented to the City and developer has requested that the surety requirement be reduced to $4,400.00; and WI{EREAS, a final inspection has been conducted on this project and the system appears to be functioning properly without any defects; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COM~4ISSION OF THE CITY OF BOYNTON BEACH, FLORIDA, T~IAT: Section 1. The City Commission of the City of Boynton Beach, Florida, based upon the recommendation of staff, hereby approves a reduction of surety from $87,650.00 to $4,400.00. Section 2. That this Resolution shall become effective immediately upon passage. PASSED AND ADOPTED this ~ day of April, 1999. ATTEST: s/catr~\.l~tt~of Crdit~Boyn[~n~h~pes 3/25~9~ ~ -- ~,,,,,,,,.~ o ~,~ CITY DF BOYNTON BEACH, FLORIDA / ~ice Mayor Comm± s s J_ oner · Commi s s i one r Commi s s i one r