HomeMy WebLinkAbout2020-033 - ResolutionRESOLUTION NO. 2020-033
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
RANCHO CUCAMONGA, CALIFORNIA, APPROVING THE
REDUCTION IN FAITHFUL PERFORMANCE BOND FOR TRACT
20073 PUBLIC IMPROVEMENTS AND RELEASING
PREVIOUSLY SUBMITTED FAITHFUL PERFORMANCE BOND
ACCEPTED BY THE CITY COUNCIL ON MAY 6, 2020
WHEREAS, the City Council of the City of Rancho Cucamonga, California,
previously approved an Improvement Agreement guaranteed by acceptable Improvement
Securities by SC Rancho Development Corporation, as Developer, for the improvement of public
right-of-way adjacent to the real property described therein, and generally located north of 4th
Street, south of 6th Street, west of Milliken Avenue, and east of Cleveland Avenue; and
WHEREAS, the installation of public improvements, described in said
Improvement Agreement and subject to the terms thereof, have been partially completed in
conjunction with the development of said real property referred to as Tract 20073; and
WHEREAS, said Developer has submitted for approval a request for bond reduction of
the Faithful Performance Bond and Labor Material Bond, to reflect the remaining work to be
completed; and
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA
HEREBY RESOLVES AS FOLLOWS:
SECTION 1: That said request for bond reduction of the Faithful Performance
Bond and Labor Material Bond submitted by said developer be and the same are hereby approved
and the previously submitted Faithful Performance Bond and Labor Material Bond are released
and the City Clerk is hereby authorized to accept on behalf of the City the bond reduction.
Resolution No. 2020-033 - Page 1 of 2
PASSED, APPROVED and ADOPTED this 201h day of May, 2020.
ATTEST:
nice C. Reynolds, City Clerk
'41
STATE OF CALIFORNIA
COUNTY OF SAN BERNARDINO ) ss
CITY OF RANCHO CUCAMONGA )
I, Janice C. Reynolds, City Clerk of the City of Rancho Cucamonga, do hereby certify
that the foregoing Resolution was duly passed, approved, and adopted by the City Council of
the City of Rancho Cucamonga, at a Regular Meeting of said Council held on the 20th day of
May 2020.
AYES: Hutchison, Kennedy, Michael, Scott, Spagnolo
NOES: None
ABSENT: None
ABSTAINED: None
Executed this 21 st day of May, 2020, at Rancho Cucamonga, California.
G . at
nice C. Reynolds, Clerk
Resolution No. 2020-033 - Page 2 of 2