SUBJECT
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Accept a one-year warranty and surety in the amount of $54,910.00 in the form of Maintenance Bond No. GM226218 for Magnolia Estates. (No fiscal Impact)
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DESCRIPTION
This request is to accept a one-year warranty and surety in the amount of $54,910.00 in the form of Maintenance Bond No. GM226218, which represents 10% of the cost of the publicly dedicated infrastructure for ownership, operation and maintenance responsibilities for Magnolia Estates per Utilities Code Section 4.03.B.2. This warranty is for a one-year period beginning with the Board’s acceptance. This one-year warranty period begins on December 3, 2024, and ends on December 3, 2025.
RECOMMENDATION
Request Board accept a one-year warranty expiring on December 3, 2025, and a Maintenance Bond in the amount of $54,910.00 for Magnolia Estates.
FISCAL IMPACT
No Fiscal Impact
CONTACT INFORMATION
Rebecca Spangler
Land Development
863-534-6490
rebeccaspangler@polk-county.net