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K. Stonebridge Subdivision - Assignment of Rights under Maintenance Bond The Board reviewed a Memorandum of May 8, 1995: TO: The Board of County Commissioners FROM: kms-' William G. Collins II - Deputy County Attorney DATE: May 8, 1995 SUBJECT: Stonebridge Subdivision - Assignment of Rights Under Maintenance Bond The plat of Stonebridge Subdivision was approved February 21, 1995. Since that time all required subdivision improvements have been completed. County ordinances require the developer to provide a maintenance bond which warranties the publicly dedicated improvements for a period of one year. The developer's contractor has provided a maintenance bond to the developer which the developer wishes to assign to Indian River County. Such assignments have been approved in the past with respect to development projects within Grand Harbor'. The developers, Westmark Associates Development Company, L.C., have also provided a Bill of Sale of Utility Facilities for on-site improvements and for an -off-site force main, and a Bill of Sale for roadway and drainage improvements. RECOMMENDATION: I. Accept the Assignment of Rights Under Maintenance Bond for the warranty of the publicly dedicated improvements; 2. Authorize the Chairman and Clerk to execute the Assignment of Rights Under Maintenance Bond; _ 3.. Accept the Bill of Sale for on -site -utility facilities; 4. Accept the Bill of Sale for off-site sanitary force main; and 5. Accept the Bill of Sale for required on-site roadway and drainage improvements (Contract No. SD -94-11-09-B) . ON MOTION by Commissioner Eggert, SECONDED by Commissioner Bird, the Board unanimously approved staff's recommendation as set out in. the memorandum. COPY OF ASSIGNMENT OF RIGHTS UNDER MAINTENANCE BOND, BILL OF SALE OF UTILITY FACILITIES, AND WARRANTY, GUARANTY AND MAINTENANCE AGREEMENT AND BILL OF SALE FOR REQUIRED IMPROVEMENTS ARE ON FILE IN THE OFFICE OF THE CLERK TO THE BOARD 15 May 16, 1995 BOOK 95 P �E 1