Manatee County Government Administrative Center Commission Chambers, First Floor 9:00 a.m. - September 23, 2014
September 23, 2014 - Regular Meeting
Agenda Item #31

Bonds - SR 64 Borrow Pit - Accept Site Reclamation Agreement, Accept Letter of Credit


Contact and/or Presenter Information
Carmen Mosley, Sr. Fiscal Services Manager, 708-7450, Ext. 7209

Jane Oliver, Fiscal Analyst, 708-7450, Ext 7613

Action Requested
  • Accept, Execute, and Record Agreement in Conjunction with Letter of Credit as Security Insuring Performance and Compliance of Site Reclamation - Borrow Pit; and
  • Accept and Execute Letter of Credit No. SLC501049 in the Amount of $136,127.00

Enabling/Regulating Authority

Background Discussion
Old Florida Investment Resources, LLC, and SMR Aggregates, Inc., have submitted for a permit to operate a major earthmoving borrow pit on SR 64.  As part of this submittable, the applicants have provided evidence of financial responsibility in accordance with Section 732.5.12 of the Land Development Code.

The Letter of Credit in the amount of $136,127.00 and the Agreement in Conjunction with the Letter of Credit for the SR 64 Borrow Pit have been reviewed by County Staff and have been determined to meet the requirements of the Manatee County Land Development Code Section 732.

County Attorney Review
Not Reviewed (No apparent legal issues)

Explanation of Other

Reviewing Attorney

Instructions to Board Records
  1. Payment for recording fees ($44.00) to be provided by the developer.
  2. Please contact Jane Oliver at Ext. 7613 when all original, executed documents are ready for pickup
  3. Please provide confirmation of the action taken on this item to jane.oliver@mymanatee.org.

Cost and Funds Source Account Number and Name

Amount and Frequency of Recurring Costs

Attachment:  SR 64 Borrow Pit Agreement.pdf
Attachment:  SR 64 Borrow Pit LOC.pdf