RESOLUTION NO. 2024-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CAMARILLO EXONERATING WARRANTY SECURITY FOR
TRACT 5979 PEGH INVESTMENTS LLC
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 March 8, 2023, the City Council of the City of Camarillo accepted public improvements and reduced performance security as warranty security for T-5979 PEGH Investments LLC.
B. T-5979 has been completed to the satisfaction of the City Engineer, the warranty security has remained posted for the required period, and the final monuments have been installed.
SECTION 2:The recitals set forth above are true and correct.
SECTION 3:Pacific Western Bank Certificate of Deposit No. 166763 in the amount of $377,113 for streets, removals, drainage, and monuments is exonerated.
SECTION 4:The Public Works Department is authorized to return the securities listed in Section 3 to the developer.
PASSED AND ADOPTED DECEMBER 11, 2024.
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Mayor
Attested to on _____________________.
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Interim City Clerk
I, Carrie Weal, Interim 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 December 11, 2024, by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
_________________________
Interim City Clerk
c: PEGH Investments LLC w/original securities
Pacific Western Bank
Public Works
Finance Department
Information Systems Division