1984-0807_BANK OF AMERICA_I1a_Item Minutesi
BIDS, CONTRACTS, AGREEMENTS
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Written Communications:
Report dated August 7, 1984, from the Director of Public
Works, forwarding an agreement with the Bank of America to
partially fund the assessment payments within Tract 11765
for the Ortega Properties Assessment District (AD 78-3).
The purpose of the agreement is to establish an escrow
whereby the assessments for the properties in Tract 11765
are reduced to $200 per year.
Approval of Agreement:
It was movedyb Councilman Buchheim, seconded by Councilman
Friess, and unanimously carried to approve the letter
agreement with Bank of America dated July 26, 1984, "holding
Escrow #1020-5485; Fredricks Development Corporation,
Assessment District No. 78-3 (Ortega Properties)." The J
Mayor and City Clerk were authorized to execute the
agreement on behalf of the City.