57R-4156
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RESOLUTION NO. 4156
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A RESOLUTION OF THE CITY COUNCIL OF THE OITY
OF ANAHEIM AUTHORIZING THE DEPOSIT IN ESOROW
WITH CALIFORNIA BANK, 203 EAST CENTER STREET,
ANAHEIM, OALIFORNIA, BY MIRA FLORES, INC. OF
FUNDS REQUIRED FOR THE FURNISHING, INSTALL~
TION AND COMPLETION OF ALL IMPROVEMENTS
REQUIRED BY THE CITY OF ANAHEIM IN TRACT NO.
3266; AND AUTHORIZING THE MAYOR AND OITY CLERK
TO EXECUTE AN AGREEMENT FOR Ai\JD ON BEHALF OF
THE CITY OF ANAHEIM.
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WHEREAS, Mira Flores, Inc., a California Corporation,
has submitted to the Oity Council of the City of Anaheim a Tract
Map for Tract No. 3266 and has requested the City Council to
finally approve said Tract Map; and
WHEREAS, said Mira Flores, Inc. has agreed to furnish
or cause to be furnished and to pay for all labor, materials and
equipment, and perform or cause to be performed and pay for all
work to make and complete all street improvements and sewer and
water mains and lines and all engineering required inside of said
Tract No. 3266, as required by the City of Anaheim, acting by and
through the City Engineer and the Superintendent of the Light,
Water and Power Department, and in accordance with the provisions
of the Anaheim Municipal Code and ordinances of the City, all in
accordance with the specifications of the City Engineer and the
Superintendent of Light, Water and Power of the City of Anaheim,
said improvements to be completed on or before twelve (12) months
from the 15th day of October, 1957; and
WHEREAS, in lieu of the posting with the City of Anaheim
of a surety bond or a deposit as required by Section 11612 of the
Business and Professions Code of the State of California, Mira
Flores, Inc. desires to deposit with the Oa~nia Bank, 203 East
Center Street, Anaheim, California, as escrow agent, cash, in
lawful money of the United States, in an amount estimated to be
necessary to pay for the cost of all labor, materials and equipment
and the performance of all work for the installation and completion
of said improvements, as a guarantee that said Mira Flores, Inc.
will make or cause to be made and completed said improvements as
required by the City of Anaheim, and pay the cost thereOf; and
WHEREAS, the City Council finds that the estimated cost
of said street, sewer and water improvements is the sum of Thirty-
t1f'O Thousand 81:1: Hundred Fifty-three Dollars ($32,6.53.00); and
WHEREAS, the City Oouncil finds that if said sum is
deposited with said California Bank and all claims for labor and
materials are approved by the City Engineer or the Superintendent
of the Light, Water and Power Department and paid directly to the
person, firm or corporation performing such labor or furnishing
such materials by said California Bank, and that fifteen (15)
percent of said deposit is held until thirty-five (35) days after
the filing of notice of completion of said work and improvements,
that the City of Anaheim will be adequately protected in the
matter.
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Anaheim that said Mira Flores, Inc. be, and it is
hereby, authorized to deposit the sum of Thirty-tv 0 Thousand
Six Hundred Fifty-three Dollars ($32,653.00), lawful money of the
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United States, with California Bank, as escrow agent, as security
for the payment of the cost of all labor, materials and equipment
in making the street improvements and the sewer and water improve-
ments, and all engineering, inside of Tract No. 3266, and that
the money deposited by said Mira Flores, Inc. with the California
Bank, 203 East Center Street, Anaheim, California, as escrow agent,
as security for the furnishing and payment of all labor, materials
and equipment required for the making, installation and completion
of said improvements, may be used from and after the execution of
an agreement by and between the City of Anaheim, Mira Flores,' Inc.,
and California Bank to make progress payments to pay for materials
furnished and labor performed in the making and completion of said
improvements, such progress payments to be made as follows:
Progress payments shall be made not
oftener than twice monthly, and in
the manner herein provided.
That all such progress payments shall be made directly
by said California Bank to the person, firm or corporation furnish-
ing such materials or performing such labor, upon written itemized
statements showing the furnishing of such materials or the perform-
ance of such labor, approved by the City Engineer for labor and
materials furnished for street and sewer improvements, and approved
by the Superintendent of the Light, Water and Power Department
for water mains and lines, and by Burt Lowen of Mira Flores, Inc.
AND BE IT FURTHER RESOLVED that the Mayor and the City
Clerk be, and they are hereby, authorized to enter into and
extcute an agreement for and on behalf of the City of Anaheim
with Mira Flores, Inc. and California Bank, 203 East Center Street,
Anaheim, California, in a form approved by the City Attorney,
incorporating the provisions of this resolution and providing for
payment of said deposit to the City of Anaheim, or so much thereof
as may be necessary to reimburse the City, in the event of default
by said above named corporation in the performance of said agree-
ment. That said agreement shall be dated the 15th day of October,
1957.
THE FOREGOING RESOLUTION is signed and approved by me
this 15th day of October, 1957.
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( M~ d {k CIT; OF ANAHEIM
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STA TE OF .CALIFORNIA)
COUNrY OF ORANGE ) s s .
CITY QF ANAHEIM )
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I, DENE M. WILLIAMS, City Clerk of the City of Anaheim,
do he;reby certify that the foregoing Resolution was duly passed
and adopted at an adjourned regular meeting of the City Council
of the City of Anaheim, held on the 15th day of October, 1957,
by the following vote of the members thereof:
!YEs: COUNCIutEN: Pearson,Coons, Fry, Schutte and
Wisser
NOES: COUNCIutEN: None
ABSENT: COUNCIutEN: None
.AND I FURTHER CERTIFY ;ha t the Mayor of the City of
Ana:helm approved and signed said Resolution'on the 15th day of
October, 1957.
IN WITNESS WHEREOF , I have hereunto set my hand anti.
affixed the seal of the City of,Anaheim this 15th day of Ootober,
1957.
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CITY. CLERK OF THE CITY OF ANAHEIM
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