RESOLUTION NO. 2024-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CAMARILLO EXONERATING FUTURE SECURITIES FOR TRACT
4272 TRI POINTE HOMES
The City Council of the City of Camarillo resolves as follows:
SECTION 1:The City Council of the City of Camarillo finds and declares as follows:
A. On October 11, 1989, the City Council of the City of Camarillo received securities for the future design and installation of a traffic signal at Verdugo Way and Camino Ruiz, pursuant to Condition 12.e for Tract 4272 from Pardee Construction Company B. On December 5, 2019, Pardee Construction Company merged with Tri Pointe Homes.
C. The developer has cashed out its obligation in the amount of $205,000 and a check in that amount has been received by the city.
SECTION 2:The recitals set forth above are true and correct.
SECTION 3:St. Paul Fire and Marine Insurance Company Performance/Labor and Materials Bonds No. 400HX1674 in the amount of $205,000 for future design and installation of traffic signal at Verdugo Way and Camino Ruiz are exonerated.
SECTION 4:The Public Works Department is authorized to return the securities listed in Section 3, above.
PASSED AND ADOPTED July 10, 2024.
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Mayor
Attested to on _____________________.
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City Clerk
I, Kristy Buxkemper, City Clerk of the City of Camarillo, certify Resolution No. 2024-__ was adopted by the City Council of the City of Camarillo at a regular meeting held July 10, 2024, by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
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City Clerk
c: Tri Pointe Homes w/original securities
St. Paul Fire and Marine Insurance Company
Public Works
Finance Department
Information Systems Division