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Resolution Number 92-7-7-2RESOLUTION NO. 92-7-7-2 A RESOLUTION OF THE CITY OF COUNCIL OF THE CITY OF SAN JUAN CAPISTRANO, CALIFORNIA, DECLARING WORK TO BE COMPLETED AS TO PLANS AND SPECIFICATIONS FOR THE CONSTRUCTION OF PUBLIC STREETS, SEWER AND STORM DRAINS AND PRIVATE STREETS - TRACTS L2827 AND 12830 (GLENFED DEVELOPMENT) WHEREAS, the City of San Juan Capistrano has entered into an Improvement Agreement with GLENFED DEVELOPMENT, 16601 Ventura Boulevard, Encino, CA 91436, for the construction of public and private improvements in Tracts 12827 and 12830;and, WHEREAS, the City Engineer has found the public and private improvements to be in compliance with the plans and specifications of Tracts 12827 and 12830,and the City Engineer also finds said improvements to be in compliance with City specifications and therefore, recommends approval. NOW, THEREFORE, the City Council of the City of San Juan Capistrano, does resolve as follows: SECTION 1. That the work required to be performed by said Developer has been completed on Tracts 12827 and 12830. SECTION 2. That the work is hereby accepted and approved. SECTION 3. That the following sureties may be released 35 days after recordation of the Notice of Completion: Tract Bond Coverage Bond No. Bond Amount 12830 Performance Private Streets) 6154419 $162,945 12827 Performance (Public Improvement) 30072222 41,322 12827 Labor & Material (Public Improvements) 30072222 41,322 12827 Performance (Private Streets) 30072219 71,863 SECTION 4. 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 7th day of T, 1 , .1992. IL J , AYOR ATTEST: -I- STATE OF CALIFORNIA ) COUNTY OF ORANGE ) ss CITY OF SAN JUAN CAPISTRANO ) 1, 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. 92-7-7-2 adopted by the City Council of the City of San Juan Capistrano, California, at a regular meeting thereof held on the 7th day of July , 1992, by the following vote: AYES: Councilmen Friess, Hausdorfer, Harris, Vasquez and Mayor Jones NOES: None ABSTAIN: None ABSENT: None (SEAL) CHERYL JOH ITY CLERK -2-