R00-097RESOLUTION NO. R00-
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF
BOYNTON BEACH, FLORIDA, APPROVING AND ACCEPTING
TWO LETTERS OF CREDIT SUBMITTED FOR THE PRO]ECG
KNOWN AS CASCADE LAKES, AND ISSUED BY BANK
ATLANTIC, (NO. BA-436 AND BA-437) IN THE AMOUNT OF
$288,800.00 AND $244,300.00, RESPECTIVELY; AND
PROVIDING AN EFFECTIVE DATE.
WHEREAS, the City Commission of the City of Boynton Beach, upon
recommendation of staff, does hereby accept the above referenced Letters of Credit (Nos.
BA-436 and BA-437) from Bank Atlantic the amount of $288,800 and $244,300,
respectively, as surety for completion of on-site and off-site sanitary sewer and water
distribution for the project known as Cascade Lakes.
NOW, THEREFORE, BE ZT RESOLVED BY THE CTTY COI~IF,I1'SSZON OF THE
CTTY OF BOYNTON BEACH, FLORZDA, THAT:
Section 1. The City Commission of the City of Boynton Beach, Florida hereby
approves and accepts two Letters of Credit (Nos. BA-436 and BA-437) from Bank Atlantic in
the amount of $288,800 and $244,300, respectively, as surety for completion of on-site and
off-site sanitary sewer and water distril~ution for the project known as Cascade Lakes.
Section 2. That this Resolution shall become effective immediately upon
passage.
PASSED AND ADOPTED this ~ day of July,2000.
Vice Mayor
Commissioner