HomeMy WebLinkAboutR-76-02RESOLUTION
NO. R-76-2
WHEREAS, General Development Corporation has .requested the
City Council to release its corporate bond, dated January 27, 1964,
in the amount of $1,864,594.00, which bond assured the construction
of streets within the City of Sebastian in accordance with its
subdivision regulations, and
WHEREAS, General Development Corporation in 1970 posted
corporate bonds for the roads remaining to be constructed within
platted units bonded by the 1964 bond, while simultaneously obtain-
ing the release of certain surety bonds posted.
NOW, THEREFORE, be it resolved by the City Council of the City
of Sebastian, Florida that:
The corporate' bond of General Development Corporation dated
January 27, 1964, in the amount of $1,864,594.00 is hereby releasud
and any obligation of General Development Corporation arising
therefrom to 'the City of Sebastian is no longer of any force or
effect.
Dated this ~?---~-----
(SEAL)
ATTESI~ :
day of February, 1976.
F. . ragg, Mayor
City Clerk
The foregoing .Resolution was duly passed and adopted by the
City Council of the City of Sebastian, Florida, this ~~
day of ~, , 1776.
City Clerk