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1995-0606_BOB WETZEL CONCRETE_D3_Item Minutes0 0 3. APPROVAL OF PLANS. SPECIFICATIONS. AND AUTHORIZATION TO RECEIVE BIDS - DRAINAGE IMPROVEMENTS ON CALLE DFiLGADO . 60 30 As set forth in the Report dated June 6, 1995, from the Director of Engineering and Building, the plans and specifications were approved for the installation of drainage on Calle Delgado. Staff was authorized to call for bids. As set forth in the Report dated June 6, 1995, from the Engineering and Building Director, the following Resolution was adopted: 1) assigning the Improvement Agreements from the Lusk Company to Glendale Federal Bank for Tracts 13436, 13437, 13865, and 13866, and 2) approving the substitution of the Lusk Company bonds with equivalent sureties from Glenfed: RESOLUTION NO. 95-6-6-1. ASSIGNMENT OF IMPROVEMENT AGREEMENTS AND EQUIVALENT SURETY SUBSTITUTION FOR TRACTS 13865_ 13436- 13866- AND 13437 (LUSK COMPANY/GLENDALE FEDERAL BANK) - A RESOLUTION OF THE 40 CALIFORNIA, COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, APPROVING THE ASSIGNMENT OF IMPROVEMENTS AND THE SURETY SUBSTITUTION TO TRANSFER ALL OBLIGATIONS, DUTIES AND RIGHTS FROM THE LUSK COMPANY TO GLENDALE FEDERAL BANK (TRACTS 13865, 13436, 13866 AND 13437) The Report advised that through foreclosure the land had been returned to Glendale Federal Bank and the improvement work would be their responsibility until sale of the land to Taylor - Woodrow Homes is completed. The Assignment of interests will be forwarded to the Orange County Recorder's Office for recordation. . • • •.1 • • . ��I,, ; • \ . Written Communications: (1) the Report dated June 6, 1995, from the Director of Engineering and Building, advising that as a member of SERRA, the City must approve the Authority's 1995-96 annual budget and adopt the city's proportionate share of that budget. • City Council Minutes -3- 6/6/95