HomeMy WebLinkAbout1986-001RESOLUTION 86- 1
A RESOLUTION OF THE BOARD OF COUNTY COMMISSIONERS APPROVING A
REQUESTED EXTENSION OF CONTRACT TIME AND SECURITY FOR REQUIRED
IMPROVEMENTS IN THE SHORELANDS SUBDIVISION.
WHEREAS, the Board of County Commissioners (County) entered
into an extension of the Contract for Required Improvements with
Shoreland Development, Inc. (Developer), in conjunction with the
approval of the final plat for Shorelands Subdivision; and
WHEREAS, Barnett Bank of Indian River County (Bank) has
issued a Letter of Credit to secure said extended contract; and
WHEREAS, the Developer has requested a re -extension of time
to complete the remaining dune crossover structure, together with
a substitution of a new Letter of Credit to secure the contract
for the work to be completed; and
WHEREAS, the Board finds that good cause exists for the
re -extension of time, and that the new security will adequately
protect the interests of the County.
NOW, TIiEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF INDIAN RIVER COUNTY, FLORIDA that:
1. The amended Contract for Required Improvements No.
SD -83-09-018, attached hereto, is further amended to extend the
completion date stated therein until April 24, 1986; and
2. The Board hereby releases the Bank's Irrevocable Letter
of Credit No. 146, in the amount of $8,625.00, (EIGHT THOUSAND
SIX HUNDRED TWENTY-FIVE AND NO/100), contingent upon the receipt
and acceptance of a new Letter of Credit No. 151 in an amount of
$8,625.00 (EIGHT THOUSAND SIX HUNDRED TWENTY-FIVE AND NO/100),
expiring July 24, 1986.
The above extension and substitution of surety is hereby
approved and agreed to by the Developer.
(CORVbRATE' SEAL)
SrRoge
AND DEVE PMENT, INC.
L44&��
BY:
0. Wheelwright, President
The foregoing resolution was offered by Commissioner
Lyons , who moved its adoption. The motion was
seconded by Commissioner Bowman and upon being put to
a vote, the vote was as follows:
Chairman Don C. Scurlock, Jr. Aye
Vice Chairman Patrick B. Lyons Aye
Commissioner Richard N. Bird Aye
Commissioner Margaret C. Bowman Aye
Commissioner William C. Wodtke, Jr. Aye
a
RESOLUTION 86- 1
The Chairman thereupon declared the resolution duly passed
and adopted this 15th day of January , 1986.
Attest:
FREDA WRIGHT, C1 rk
STATE OF FLORID
COUNTY OF INDIAN RIVER
APPROVED AS TO FORM AND LEGAL
SUFFICIENCY
BY:
ASS'f.-(OUNTTTORNEY
BRUCE BARKETT
BOARD OF COUNTY COMMISSIONERS
OF INDIAN RIVER COUNTY, FLORIDA
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