HomeMy Public PortalAbout13) 7G Release of Securities PM066880 @ 4851 HeleoCity Council
June 5, 2012
Page 2
Once notified by Public Works, the City Council must approve the work that has been
completed, accept the improvements for public use and maintenance and approve the
release of the deposited securities.
CONCLUSION:
The developer (i.e., John Calvert) submitted a Surety Bond in the amount of $41 ,000 to
ensure that road and street tree improvements were completed at Parcel Map No.
066880 . The Los Angeles County Department of Public Works notified the City that the
road improvements were completed, inspected and found to be in compliance with the
approved plans (Attachment "A "). Hence, the City needs to release the Surety Bond .
FISCAL IMPACT:
None .
ATTACHMENT:
A. Letter from the County of Los Angeles Department of Public Works
Mr. Bryan Ariizumi
April 26 , 2012
Page 2
Street Tree Improvement Portion
Bond No.:
Original Faithful Performance Amount:
SU1100694
$1,000
New Faithful Performance Amount: $0
Received Date:
Principal:
Surety Company:
February 9, 1999
John E. Calvert
8903 Emperor Avenue
San Gabriel, CA 91775
Arch Insurance Company
135 North Los Robles Avenue, No. 825
Pasadena, CA 91101
Please instruct the City Clerk to send a copy of the City Council's action on this
recommendation to the principal, surety, and the City Engineer.
Very truly yours, {r,rc::;:;;z
GAIL FARBER
City Engineer
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