RESOLUTION NO. 2025-
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
CAMARILLO EXONERATING WARRANTY SECURITY FOR
CUP-330M(1) ALDERSGATE INVESTMENT, 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 May 13, 2020, the City Council of the City of Camarillo accepted the public improvements and warranty security and exonerated performance securities for CUP- 330M(1).
B. CUP-330M(1) has been completed to the satisfaction of the City Engineer, and the warranty security has remained posted for the required period.
SECTION 2:The recitals set forth above are true and correct.
SECTION 3:American Contractors Indemnity Company Warranty Bond No. 1000969485 in the amount of $73,550 for installation and completion of certain designated public improvements is exonerated.
SECTION 4:The Public Works Department is authorized to return the warranty security listed in Section 3 to the developer.
PASSED AND ADOPTED JANUARY 8, 2025.
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Mayor
Attested to on _____________________.
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City Clerk
I, Carrie Weal, Interim City Clerk of the City of Camarillo, certify Resolution No. 2025- __ was adopted by the City Council of the City of Camarillo at a regular meeting held January 8, 2025, by the following vote:
AYES: Councilmembers:
NOES: Councilmembers:
ABSENT: Councilmembers:
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City Clerk
c: Aldersgate Investment, LLC w/original security
American Contractors Indemnity Company
Public Works
Finance Department
Information Systems Division