The proposed $767,536.48 bond backs Lantana Unit 2 street and drainage work, but it does not by itself transfer permanent road maintenance to the county.
The posted bond names Meritage Homes of Texas LLC as principal, Great Midwest Insurance as surety and $767,536.48 as its penal sum. The proposed final plat covers 22.56 acres, with 88 residential lots, five open-space lots and about 3,734 feet of new street. That is the scale of the work tied to the bond, not a calculation of what each home would cost.
From the source record
The posted instrument names a $767,536.48 penal sum for Lantana Unit 2 street and drainage improvements.Guadalupe County Commissioners Court packet ↗
What the bond covers
Think of the face amount as the number written on a promise tied to building the improvements. The bond says Meritage must build and maintain right-of-way improvements until the Road and Bridge Administrator approves them and an appropriate entity accepts them for perpetual maintenance. The bond and plat describe different steps: finishing the work, then determining who takes it over.
| Question | Posted term | Practical distinction |
|---|---|---|
| How much? | $767,536.48 penal sum | Face amount of the performance bond |
| For what? | Street and drainage improvements | Work associated with the proposed Unit 2 plat |
| Until when? | Build and maintain right-of-way improvements until administrator approval and an | Acceptance for perpetual maintenance is a further step |
The first and third rows summarize the bond; the proposed plat supplies the subdivision context.