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RESOLUTION NO. 2/ // <br /> RESOLUTION APPROVING THE REDUCTION <br /> OF ONE PERFORMANCE BOND FOR THE <br /> CONSTRUCTION OF CERTAIN SIDEWALKS <br /> WITHIN ARBOR OAKS PLAT 3 <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 /> the construction of certain sidewalks within the area commonly known <br /> as Arbor Oaks Plat 3, City of Clive, Iowa; <br /> Bond No. 381078 in the amount of $7,718.00, dated November <br /> 3, 1978 relating to Arbor Oaks Plat 3. The Principal under such <br /> bond is Jerry's Homes, Inc., and the Surety thereunder is Mer- <br /> chant Mutual Bond Company of Des Moines, 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 protion of <br /> the sidewalk construction as so required; and <br /> WHEREAS, THE City of Clive, due to the completion of such por- <br /> tion of the construction of said sidewalks as so required, is de- <br /> sirous of reducing the amount of the above said bond to an amount <br /> which more adequately reflects the actual footage of sidewalk yet to <br /> 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 the <br /> 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. 381078, dated November 3, 1978, re- <br /> lating to Arbor Oaks Plat 3, the amount thereof shall <br /> be reduced $5,276.00 from $7,718.00 to $2,442.00. <br /> PASSED AND APPROVED thiss day of x ___ 1984. <br /> lige i A <br /> • O. Ge'e M..dox, Mayo <br /> ATTEST: <br /> Majorie S Lee, City Clerk <br />