HomeMy WebLinkAboutCC Res 1364 1965-02-15
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RESOLUTION No./5,4
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
SEAL BEACH ACCEPTING A THREE-PARTY AGREEMENT TO
GUARANmE CERTAIN PUBLIC IMPROVEMENTS W]:THIN
TRACT 5847.
THE CITY COUNCIL OF THE CITY OF SEAL BEACH DOES HEREBY RESOLVE:
WHEREAS, it is necessary that the cost and construction of
public improvements within Tract 5847 be guaranteed by the Subdivider
of said tract, and
WHEREAS. the estimated cost of the public improvements
required within Tract 5847 is estimated to be $500,700. and must be
guaranteed for that amount, and
WHEREAS, it is necessary to enter into an agreement between
the City. Subdivider. and the lending institution to provide for the
guarantee of the construction of said improvements;
NOW. THEREFORE, BE IT RESOLVED that the Mayor of the City
of Seal Beach is directed'to execute an agreement and the City Council
accepts a Letter of credit to guarantee the construction of the public
improvements within Tract 5847.
PASSED, APPROVED, AND ADOPTED by the City Council of the City of
Seal Beach at a meeting held on the 15th day of February, 1965, by
the following vote:
AYES :
Councilmen
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NOES.:
Councilmen
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ABSENT :
Councilmen
The foregoing resolution is
February, 1965.
ATTEST:
/0. ~~J:'__
City Clerk of the City of
Seal Beach
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