1992/01/28 City Council Resolution (7)RESOLUTION NO. 92-. 14
RESOLUTION ACCEPTING IMPROVEMENTS AND AUTHORIZING
RELEASE OF SECURITIES, PARCEL MAP NO. 126
WHEREAS, The City of Rohnert Park did enter into a Letter Agreement dated
December 24, 1990, with Codding Enterprises, covering the scope of work and
installation of public improvements in a subdivision known as Parcel Map no.
126, and
WHEREAS, Codding Enterprises did post an improvement security with the
City of Rohnert Park in the total amount of $200,000 to secure the faithful
performance of the work, and the installation of the labor and materials and
the payment of laborers and materialmen doing work on the jobsite or causing
labor and materials to be installed in the subdivision, as follows:
Performance Bond $ 200,000
WHEREAS, the City Engineer of the City of Rohnert Park has recommended
that all of the public improvements within the subdivision be accepted.
NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Rohnert Park
that it does hereby accept the installation of the public improvements, and
authorizes the City Clerk of the City of Rohnert Park to release the
securities posted by the subdivider to secure faithful performance of the
work, to wit, Bank of America Irrevocable Letter of Credit No. 6569, dated
December 24, 1990, in the sum of $200,000.00
DULY AND REGULARLY ADOPTED this 28th day of January, 1992.
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Deputy City Cl
CITY OF ROHNERT PARK
Mayor Z
ECK-.A--YE HOLLINGSWORTH AYE HOPKINS —AYE REILLY AYE SPIRO—Ay—E
AYES 5 NOES-2— ABSENT 0 ABSTAIN 0