1991-0722_GLENFED DEV CORP._Bond Reduction •
COe f�
yO'-- MEMBERS OF THE CITY COUNCIL
1 di ILAWRENCE F. BUCHHEIM
KENNETH E. FRIESS
DRUG USE ( 1 �NORMA. GARY L HAUSDORFER
IS • (SIMISN(p 1961 GIF JONES
1776 JEFF VASQUEZ
• I • CITY MANAGER
STEPHEN 8. JULIAN
July 22, 1991
GlenFed Development
16601 Ventura Boulevard, Suite 200
Encino, California 91436
Re: Reduction of Sureties - Tracts 12262 and 12423
Gentlemen:
At their regular meeting held July 16, 1991, the City Council of the City of San
Juan Capistrano received your request for a reduction in sureties for Tracts 12262
and 12423. Following consideration, Council approved the Engineering and
Building staff recommendation to reduce the sureties held for private
improvements for Tracts 12262 and 12423 as follows:
Private Street Improvements for Tract 12262 reduced to $34,030 from
$102,207;
Ray Vincenti, project engineer, will be contacting the bonding company for
submittal of new bonds reflecting the revised amounts. If you have any questions,
please let us know.
Very truly yours,
Cheryl Johnson
City Clerk
cc: Fidelity and Deposit Company of Maryland
Director of Engineering and Building
Ray Vincenti
Dawn Schanderl
32400 PASEO ADELANTO, SAN JUAN CAPISTRANO, CALIFORNIA 92675 • (714) 493-1171
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