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RESOLUTION NO. i7 l3 <br /> RESOLUTION APPROVING THE REDUCTION <br /> OF ONE PERFORMANCE BOND FOR THE <br /> CONSTRUCTION OF CERTAIN SIDEWALKS <br /> WITHIN ARBOR OAKS PLAT NO. 5 <br /> CITY OF CLIVE, IOWA, AND AUTHORIZING <br /> THE MAYOR AND CITY CLERK TO EXECUTE THE <br /> NECESSARY ENDORSEMENTS IN ORDER TO <br /> IMPLEMENT SAID APPROVAL <br /> WHEREAS, the City of Clive, Iowa, is presently protected as <br /> Obligee under the following performance bond for the completion of <br /> • <br /> the construction of certain sidewalks within the area commonly <br /> known as Arbor Oaks Plat No. 5, City of Clive, Iowa: <br /> Bond No IA - 394549 in the amount of / 3 L ucx , dated <br /> February 13, 1980 relating to Arbor Oaks Plat Nd� . 5. The <br /> Principal under such bond is Jerry's Homes, Inc. and the <br /> Surety thereunder is Merchant Mutual Bond Co. of Des Moines, <br /> Iowa. <br /> WHEREAS, the above said performance bond protects the City of <br /> Clive from the failure of the Principal thereunder to construct the <br /> sidewalks within the designated Plat as required by law; and <br /> WHEREAS, according to the Director of Public Works of the City, <br /> the above said Principal under said bond has completed a portion of <br /> the sidewalk construction as so required; and <br /> WHEREAS, the City of Clive, due to the completion of such <br /> portion of the construction of said sidewalks as so required, is <br /> desirous of reducing the amount of the above said bond to an amount <br /> which more adequately reflects the actual footage of sidewalk yet <br /> to be constructed. <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF CLIVE, IOWA: <br /> That the City of Clive hereby approves the reduction of <br /> the following bond in the following amount and further hereby <br /> authorizes the Mayor and City Clerk to execute the necessary <br /> endorsements in order to implement this approval: <br /> As to Bond No. IA- 394549, dated February 13, 1980, <br /> relating to Arbor Oaks Plat No. 5, the amount thereof <br /> shall be reduced from $36,025 to $20,992. <br /> PASSED AND APPROVED this 16th day of February, 1984. <br /> O. ene addox, Mayor <br /> 411 <br /> ATTEST: <br /> 1 <br /> • <br /> () 1 C � ) i <br /> Marjorie S . Lee, City Clerk <br />