Loading...
HomeMy WebLinkAbout08-073 - Resolutions RESOLUTION NO. 08-073 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF RANCHO CUCAMONGA, CALIFORNIA, APPROVING THE REDUCTIONS IN IMPROVEMENT SECURITY FOR RANCHO ETIWANDA ESTATES INFRASTRUCTURE (TENTATIVE TRACTS 16226 AND 16227) WHEREAS, The City Council of the City of Rancho Cucamonga, California, previously approved an Improvement Agreement guaranteed by acceptable Improvement Security by JTY Investment LLC, as developer, for the improvement of public right-of-way adjacent to the real property described therein, and generally located north of the extension of Day Creek Boulevard and west of Etiwanda Avenue; and WHEREAS, the installation of such backbone infrastructure improvements, described in said Improvement Agreement and subject to the terms thereof, has been partially completed, in conjunction with the development of said real property referred to as Tracts 16226-1, 16226, 16227-1, 16227-2 and 16227, which have been approved with improvement agreements of their own for interior improvements to private streets, and in right-of-way dedicated across one future Tract 16226-2; and WHEREAS, said Developer submits for approval a request for bond reduction of the Improvement Security, to reflect the remaining work to be completed; and NOW THEREFORE, the City Council of the City of Rancho Cucamonga hereby resolves, that said request for bond reduction of the Improvement Security submitted by said developer be and the same are hereby approved and the City Clerk is hereby authorized to accept on behalf of the City a bond reduction rider to the original bond. Please see the following page for formal adoption,certification and signatures Resolution No. 08-073 Page 2 of 2 PASSED, APPROVED, AND ADOPTED this 2nd day of April 2008. AYES: Gutierrez, Kurth, Michael, Spagnolo, Williams NOES: None ABSENT: None ABSTAINED: None Donald J. Kurth, M.D., Mayor ATTEST: Debra JAdams, C\,MCuCity Clerk I, DEBRA J. ADAMS, CITY CLERK of 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 2nd day of April 2008. Executed this 3`d day of April 2008, at Rancho Cucamonga, California. lyt,r���1�1c�o� Deb a J. dams, CMC, City Clerk