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FEB 16 1983 $ W-774,., <br />A. Approval of release of cash bond for paving of road <br />between 36th Street and Barber Avenue - Ralmar Associates <br />The Board reviewed the following staff recommendation: <br />TO: The Honorable Members of DATE: February 2, 1983 FILE: <br />the Board of County Commissioners <br />i <br />THROUGH: SUBJECT: Request to Release Cash <br />Michael Wright, Bond for Paving of Road <br />County Administr for Between'36th Street and <br />Barber Avenue - Ralmar <br />Associates <br />E. Davis, P.E. v <br />REFERENCES:Letter Robert Jackson to <br />FROM: James <br />Public Works Director.1 Christopher J. Paull <br />dated January 24, 1983 <br />DESCRIPTION AND CONDITIONS <br />During February, 1980, Ralmar Associates submitted a $1,000. cash <br />.bond to insure the paving of a portion of the Ralmar Associates <br />Road where it connects to Barber Avenue. All construction has <br />been completed and inspected*by the Public Works Division. By <br />letter from Attorney Robert Jackson, representing Ralmar Associates, <br />it is also requested that interest be paid on the $1,000. bond. <br />ALTERNATIVES AND ANALYSIS <br />Since the work has been completed, release of the bond is justified. <br />However, at the time the bond was submitted, there was no indication <br />in the County files that interest on the bond was originally requested <br />at the time the bond was accepted. Recent County policy requires <br />this 3tequest for interest at the time the bond is received, and then <br />a past book rate is County policy. <br />RECOM�TENDATIONS AND FUNDING <br />It is recommended that the Board of County Commissioners approve release <br />of the $1,000. cash bond to Ralmar Associates, but that no interest <br />be included with the release. Funding to be from the County's Es -crow <br />Account.'' <br />ON MOTION MADE by Commissioner Scurlock, <br />SECONDED by Commissioner Lyons, the Board <br />unanimously approved release of Ralmar <br />Associates cash bond as recommended above. <br />C. <br />