RESOLUTION R2022-XXX
RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MANTECA, STATE OF CALIFORNIA, accepting public improvements for the Nur Al-Huda Academy; approving exoneration of the Irrevocable Standby Letter of Credit for construction of the public improvements six (6) months after the date of acceptance; and approving exoneration of the Warranty Irrevocable Standby Letter of Credit twelve (12) months after the date of acceptance WHEREAS, The Nur Al-Huda Academy (DEVELOPER), has requested the City Council of the City of Manteca, a Municipal Corporation (CITY), accept the public improvements within the S. Union Road right-of-way, including a new traffic signal at the intersection of S. Union Road and Mission Ridge Drive; and WHEREAS, The Nur Al-Huda Academy provided an Irrevocable Standby Letter of Credit for construction of the public improvements which will be exonerated six (6) months after acceptance of the improvements by City Council and submittal of a Warranty Irrevocable Standby Letter of Credit in the amount of ten percent (10%) of the improvement costs; and WHEREAS, all phases of the public improvements have been inspected, tested, and completed to the satisfaction of the Engineering Department of the CITY; and WHEREAS, the City Council has considered all information related to this matter as presented at the public meetings of the City Council identified herein, including any supporting reports by City Staff and any information provided during public meetings.
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City of Manteca, as follows:
The City Council hereby finds that the facts set forth in the recitals to this Resolution are true and correct and establish the factual basis for the City Council’s adoption of this Resolution.
The City Council hereby finds that the public improvements for the Nur Al-Huda Academy are complete and are hereby accepted.
The City Council hereby assumes all future maintenance of the completed public improvements.
The Irrevocable Standby Letter of Credit in the amount of $492,515.95 on deposit with the CITY is hereby exonerated six months after acceptance of said improvements if no claims have been filed and upon receipt by CITY of a Warranty Irrevocable Standby Letter of Credit in the amount of $49,251, as surety for the one-year warranty period, as provided in the Improvement Agreement between CITY and DEVELOPER.
The City Engineer is hereby authorized to exonerate the Warranty Standby Letter of Credit twelve (12) months after the date of acceptance.
The City Clerk is hereby instructed to record this Resolution with the San Joaquin County Recorder’s Office.
This Resolution shall take effect immediately upon its adoption.
I HEREBY CERTIFY that the foregoing Resolution was duly adopted by the City Council of the City of Manteca at a public meeting of said City Council held on the 6th day of December 2022, by the following vote:
AYES:
NOES:
ABSENT:
ABSTAIN:
MAYOR: ________________________
Benjamin J. Cantu
Mayor
ATTEST: ________________________
Cassandra Candini-Tilton
Director/City Clerk
Resolution __ ____
R2022-XX Page 1 of 2 December 6, 2022
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