City Council

15. ACCEPTANCE OF TRACT IMPROVEMENTS BY LS-OC PORTOLA LLC,\nAND RELEASE OF BONDS FOR TRACT 15353\nRECOMMENDED ACTION: 1. Accept as complete the tract improvements\nand monumentation constructed by LS-OC Portola LLC, for Tract 15353. 2.\nAuthorize the City Clerk to release the Subdivision Improvement Faithful\nPerformance and Subdivision Improvement Labor and Materials Bonds,\nboth in the amount of $8,093,181.75 and the Subdivision Improvement\nMonumentation Bond in the amount of $3,450 for Tract 15353. 3. Authorize\nthe City Clerk to release the Subdivision Improvement Warranty Bond in the\namount of $809,318.18 one year after acceptance of the tract\nimprovements for Tract 15353 with concurrence of the Director of Public\nWorks/City Engineer.