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CITY COUNCIL OF THE CITY OF PLEASANTON <br /> <br /> ALAMEDA COUNTY, CALIFORNIA <br /> <br /> RESOLUTION NO. 95-73 <br /> <br /> RESOLUTION AUTHORIZING REDUCTION AND <br /> SUBSTITUTION OF PERFORMANCE AND PAYMENT <br /> BONDS FOR TRACTS 6452, 6439, 6553 AND 6554, <br /> RUBY HILL <br /> <br />WHEREAS, at its meeting of ~Iuly 18, 1995, the City Council reviewed the staff report <br /> (SR 95:230) from the Director of Public Works regarding the request of <br /> Signature Properties that the performance and payment bonds for four of its <br /> tracts be reduced from 100% to approximately 35% because the public <br /> improvements within those tracts are substantially completed; and <br /> <br />WHEREAS, Signature Properties has recorded a Notice of Completion as to the private <br /> improvements within the four tracts and no timely liens have been recorded; <br /> and <br /> <br />WHEREAS, staff recommends that the reduction in bonds be approved; <br /> <br />NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PLEASANTON <br />RESOLVES AS FOLLOWS: <br /> <br />Section 1: Authorizes the reduction and substitution of the performance and <br /> labor/material bonds for Tracts 6452, 6439, 6553 and 6554, as more <br /> particularly described in the attached exhibit. <br /> <br />Section 2: This resolution shall become effective immediately upon its passage and <br /> adoption. <br /> <br /> I HEREBY CERTIFY THAT THE FOREGOING WAS DULY AND <br />REGULARLY ADOPTED BY THE CITY COUNCIL OF THE CITY OF <br />PLEASANTON, AT A MEETING HELD ON JULY 18, 1995 BY THE FOLLOWING <br />VOTE: <br /> <br />AYES: Councilmembers - Michelotfi, Mohr, Pico, and Mayor Tarver <br />NOES: None <br />ABSENT: Councilmember Dennis <br />ABSTAIN: None <br /> ATTEST: <br /> <br />Michael H. Roush, City Attorney <br /> <br /> <br />