HomeMy WebLinkAboutResolutions 85-276A N.C.S. 08/12/1985Resolution No. 8 5-2 ~ 6.1 V. C. ~.
of the City of Petaluma, California
AUTHORIZING RETENTION ESCROW
AGREENIENTS
WHEREAS, the State Legislature has passed legislation which authorizes
contractors to request that a municipal corporation enter into Retention
Escrow Agreements in lieu of the usual procedures for handling retained
percentages; and,
WHEREAS, the State Law provides that when such a request is made
the City awarding the contract must honor that request;
NOW, THEREFORE, BE IT RESOLVED as follows: ~
The City Council of the City of Petaluma authorizes:
1. The execution of Retention Escrow Agreements upon request of
public works and public construction contractors; and,
2. The Mayor or City Manager is authorized to sign all necessary
documents on behalf of the City Council; and,
3. The Contractor shall be responsible for the proper performance
and compensation of any Escrow A~ent that may be retained for such
Retention Escrow Agreement.
Under the power and authority conferred upon this Council ;by the Charter of said City.
CCx'eso I hereby certify the foregoing Resolution was introduced and adopted by the Ap s to
Council of the City of Petaluma at a"(R~g41'di"j "~Adjourned) '~'Sji~Cialj'meeting ~
on the _.._12.:~~._......_ day of ........._.~LJ,~~,S~•••••••---••••••••••....••••-•, 19._85; by the
following ~ote:
._... . ..-•--• •-•---• ••--•• •••-•• •••..
1ty Attorney
AYES:
NO~S:
BOND, CAVANAGH, DAVIS,
BALSHAW, MAYOR MATTEI
-0- ~
ABSENT: -~- _
A'1"I'~ST: ...- -- . -, . ... .. .......:....... ......••••---
Gity Cler ~
~ Form CA,2 7/81
WOOL5EY, TENCER, VICE-MAYOR
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Mayor
Council File. . .....
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