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Resolution Number 96-9-17-3267 RESOLUTION NO. 96-9-17-3 1 1::_ 1►11 1 1 �\ 1 /I A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, DETERMINING COMPLETION OF WORK IN ACCORDANCE WITH APPROVED PLANS AND SPECIFICATIONS FOR THE CONSTRUCTION OF STORM DRAIN AND SEWER IMPROVEMENTS AND PARTIAL COMPLETION OF STREET "ROVEMENT WORK WITHIN TRACT 14398, SAN JUAN VILLAS L.P. WHEREAS, on June 4, 1996, the City of San Juan Capistrano entered into a Subdivision Improvement Agreement with San Juan Villas, L.P., c/o Concorde Development, 19752 MacArthur Boulevard, Suite 240, Irvine, California 92715, providing for the construction of certain public and private improvements within Tract 14398; and, WHEREAS, San Juan Villas, L.P., has requested that the City determine that the street improvement work within Tract 14398 is approximately 80% complete and reduce the corresponding surety accordingly; and, that the storm drain and sewer improvement be declared complete and the appropriate sureties be released, as follows: Surety Coverage Type of Original Amount to be American Motorists Ins. Improvement Amount Kept With Cit Bond #3SM 885 637 00 Street $503,104.00 $150,000.00 Bond 43SM 885 639 00 Stan: Drain $283,224.00 * $_0_ Bond 93SM 885 636 00 Sewer $236,756.00 * $_0_ *A one-year Warranty Bond of 25% of original bond amount has been posted with the City Engineer to insure the accepted works of improvement and material against any defect. NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of San Juan Capistrano as follows: That the works of street improvement required to be performed by said developer has been partially completed. ' That the works of storm drain and sewer improvements required to be performed by said developer has been completed. -1- 268 SECTION 3. That the completed work is approved. That the surety described in the chart above may be reduced accordingly. SECTION 5. That the surety described in the chart above may be fully released 35 days after recording of a Notice of Completion. SECTION 6. That the City Clerk is directed to forthwith forward a "Notice of Completion" to the County Recorder of the County of Orange for recording. PASSED, APPROVED, AND ADOPTED this September 1996. ATTEST: CITY CLERK 17th ( JIM Dail lit �tJl 3' WYATT T, YOR -2- day of 269 ' STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF SAN JUAN CAPISTRANO ) I, CHERYL JOHNSON, City Clerk of the City of San Juan Capistrano, California, DO HEREBY CERTIFY that the foregoing is a true and correct copy of Resolution No. 96-9-17-3 adopted by the City Council of the City of San Juan Capistrano, California, at a regular meeting thereof held on the 17th day of September , 1996, by the following vote: AYES: Council Members Jones, Nash, Swerdlin, Campbell and Mayor Hart NOES: None ABSTAIN: None ABSENT: None (SEAL) CHERYL JOHNS6R,C CLERK -3-