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Board accepts development bonds and releases subdivision maintenance funds
Summary
The board accepted developer bonds for Heather Ridge work and approved the release of a maintenance bond for Betty Court after staff confirmed requirements were met.
Board accepts development bonds and releases subdivision maintenance funds
At the Sept. 17 Public Works and Safety meeting, the board accepted two bonds related to Heather Ridge and approved release of a maintenance fund for Betty Court after staff confirmed the subdivision had met its requirements.
Staff asked the board to accept a $50,000 bond from OSMA for work being done in Heather Ridge on behalf of Comcast and presented a separate HMA surface amount of $221,238.96 related to the project. The board voted to accept the bonds. Staff also presented the maintenance fund release for Betty Court North, stating the subdivision had satisfied required standards and asking the board to release the maintenance fund in the amount of $96,102.75; the board approved the release by motion and voice vote.
Staff said they would complete the administrative steps to accept the bonds and to process the maintenance fund release. There were no recorded abstentions or roll-call tallies in the meeting minutes; approvals were recorded by voice vote.
