HomeMy WebLinkAboutResolution 4523 N.C.S. 05/16/1966 EER: jd 4/27/66
- Resolution No -- 45 2'3'- _ 1`; C:,,a
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RESOL`UTIONiAUTHORIZrING THE: MAYOR.tT,O 'EXECUTE ADDENDUM
TO SUBDIVISION AGREEMENT ',DATED APRIh; I3', T6 6j RE-
GPRDTN_G' NOVAK_ SUBDIVISION V0. 5 ;,.
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INTRODUCED BY COUNCILMAN • e '"` `°c r`' At A Regular Meeting of
r( c i� St did4aoPiatk
the City Council,of the City'of'PeSluma on the 16th day of May I
1 19 66
WHEREAS. the Santa Rosa Savings and Loan Association , the Subdivider
i
in Novak Subdivision No. 5 , has r
s deposited a government bond in the value
$ , t .sedurity .reduired by Chapter 22. of the
of 100 000 ..00 as tha contrac
Petaluma City Code of 1.958 , Which bond is a guarantee of the faithful pet-
formance 'of the- agreement; and
WHEREAS the Subdivider has requested the euh_stitution of a letter Of
credit on the Ekchange Bank of Santa Rosa to be used to secure the faithful
performance of the agreement, Ithe letter of credit being in the amount of
$100 , 000. 00 and in the -usual form acceptable ;by the City, and
WHEREAS the City - s' prepared to accept .the letter of. credi
i t in the
place and stead of the g.overnm:ent bond and, as a resU'It thereof fends the
agreement of April 13 , 1966, ,should be modified by addendum;
NOW THEREFORE BE IT RI SOLVED the City. Attorney be,. and he is hereby
. directed to prepare an addendum to the subdivision agreement of April 13 , 1-966
which reflect the above facts!
BE IT FURTHER RESOLVED that the mayor be.i and she is hereby authorized,
to execute the addendum On behalf of the City of- Petaluma. .
under the power and'aut ty',onferred u n- is Council by the Charter of said City:
� COUNCILMEN i VOTE
Seconded by/..4/1. f ;tti.4.--
Aye 'Noes Absent
( Councilman Albert L. Battaglia
I hereby certify that the foregoing resolution)was duly and /
regularly introduced and adopted by the Councillof the City of David W. Brainerd
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Petaluma,.on the 1.6t ,ay of May ' 19. 66, by John W, Cavanagh, Jr: 17
the following vote: / // r 2
(SEAL) + ��it;
� �'i/of the City off.Q71<1: y-t -L%` ,. Philip L.JJ eo,le ice.
g
i' Th' " Robert S. Lipman
Attest =.��/"'--"z- ! �nt.-7'2'�- "- " Mayor Mrs. Helen Putnam 4 '
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