HomeMy WebLinkAbout98-128 - ResolutionsRESOLUTION NO. 98-128
RESOLUTION OF CITY COUNCIL AUTHORIZING
RELEASE OF MEMORANDUM OF UNDERSTANDING
AGREEMENT RELATING TO THE RETROFIT OF A
FLOOD WALL FOR TRACT 13566-3 AND REFUND OF
SECURITY DEPOSIT $115,000.00, LOCATED SOUTH OF
WILSON AVENUE ADJACENT TO THE SAN SEVAINE
BASINS, SUBMITTED BY GENTRA CAPITAL
CORPORATION, A DELAWARE CORPORATION
WHEREAS, City Council approved the Memorandum of Understanding
Agreement on February 7, 1996, contract number 96-004. This Memorandum of Understanding
Agreement provided for a bond substitution for retrofit of the existing flood wall along the westedy
boundary of TR 13566-3. The deposit of $115,000 replaced the bond as security for the retrofit.
WHEREAS, processing of the FEMA map revision for this area has been
completed. This area is designated to be outside the 500-year floodplain. The condition of
approval, regarding change of Flood Zone designation for the project area, has been satisfied.
NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF RANCHO
CUCAMONGA HEREBY RESOLVES AS FOLLOWS:
SECTION 1: That the above recitals are all true and correct.
SECTION 2:
That said Memorandum of Understanding Agreement is hereby
released and Finance is authorized to refund the deposit of
$115,000.00.
PASSED, APPROVED, AND ADOPTED this 1st day of July, 1998.
Alexander, Biane, Curatalo, Williams
None
None
None
AYES:
NOES:
ABSENT:
ABSTAINED:
William J/'Alexander, Mayor
Resolution No. 98-128
Page 2
ATTEST:
Debra S. Adams, CMC, City
I, DEBRA J. ADAMS, CITY CLERKof the City of Rancho Cucamonga, California,
do hereby certify that the foregoing Resolution was duly passed, approved and adopted by the City
Council of the City of Rancho Cucamonga, California, at a regular meeting of said City Council held
on the 1st day of July, 1998.
Executed this 6th day of July, 1998, at Rancho Cucamonga, California.
l,~,4 De)bra J. Adams, CMC, City Clerk