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(11 0) 12/12/90(LEGAL)ordl(Ob) RESOLUTION NO. 91-52 A RESOLUTION OF INDIAN RIVER COUNTY, FLORIDA, BY ITS BOARD OF COUNTY COMMISSIONERS, ON BEHALF OF THE DEPARTMENT OF PUBLIC WORKS AMENDING THE SURETY REQUIREMENTS FOR OPEN CUTTING OF PAVED COUNTY ROADS. BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA, that the surety requirements for open cutting of paved County roads established in Resolution 90-75 be amended by Indian River County as follows: As a condition of any permit by the County to a party allowing open cutting of paved County roads, there shall be a cash maintenance bond in favor of Indian River County, valid for one year from the completion of the open cutting, which would allow the County to draw upon the cash bond to perform emergency repairs or overlays on the restored cut. The cash bond shall be in the amount of $1,000.00 per lane cut. In those instances where the cash maintenance bond exceeds $4,000.00, the permittee may, in lieu of a total cash bond, provide an irrevocable letter of credit for all amounts over $4,000.00. Said letter of credit to be drawn on a bank authorized to do business in the state of Florida. The resolution was moved for adoption by Commissioner Scurlock , and the motion was seconded by Commissioner Eggert , and, upon being put to a vote, the vote was as follows: Chairman Richard N. Bird Vice Chairman Gary C. Wheeler Commissioner Don C. Scurlock, Jr. Commissioner Margaret C. Bowman Commissioner Carolyn K. Eggert The Chairman thereupon declared the resolution duly passed and adopted this 7 day of May , 1991. te9 BOARD OF COUNTY COMMISSIONERS INDIAN RIVER COUNTY, FLORIDA By Tiara-N.�Bird Chairman h4;;;&;Co Jeffr Ri Barto-Ter Admin Legal 8udgul Approved Dale