57R-4257
RESOLUTION NO. 4257
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A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM AUTHORIZING THE DEPOSIT IN ESCROW
WITH AMERICAN SAVINGS & LOAN ASSOCIATION, .
WHITTIER, CALIFORNIA BY ALLO CONSTRUCTION CORP.
OF FUNDS REQUIRED FOR FURNISHING, INSTALLATION
AND COMPLETION OF ALL IMPROVEMENTS REQUIRED BY
THE CITY OF .ANAHEIM IN TRACT NO. 2530; AND
AUTHORIZING THE MAYOR AND CITY CLERK TO EXECUTE
AN AGREEMENT FOR AND ON BEHALF OF THE CITY OF
ANAHEIM.
WHEREAS, Allo Construotion Corp., a California Corpora-
tion, has submitted to the City Counoil of the City of Anaheim a
Traot Map for Traot No. 2530 and has requested the City Counoil to
finally approve said Traot Map; and
WHEREAS, said Allo Construction Corp. has agreed to
furnish or oause to be furnished and to pay for all labor, materials
and equipment, and perform or oause 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
Traot No. 2530, as required by the City of Anaheim, aoting by and
through the City Engineer and the Superintendent of the Light,
Power and Water Department, and in aooordanoe with the provisions
of the Anaheim Munioipal Code and ordinanoes of the City, all in
acoordanoe with the speoifioations of the City Engineer and the
Superintendent of Light, Power and Water of the City of Anaheim,
said improvements to be oompleted on or before twelve (12) months
from the 3rd day of Deoember, 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, Allo
Construotion Corp. desires to deposit with the Amerioan Savings &
Loan Assooiation, Whittier, California, as esorow agent, oash, in
lawful money of the United States, in an amount estimated to be
neoessary to pay for the oost of all labor, materials and equipment
and the performanoe of all work for the installation and oompletion
of said improvements, as a guarantee that said Allo Construotion
Corp. will make or oause to be made and oompleted said improvements
as required by the City of Anaheim, and pay the oost thereof; and
WHEREAS, the City Council finds that the estimated oost
of said street, sewer and water improvements is the sum of
$18,800.00; and
WHEREAS, the City Council finds that if said sum is de-
Posited with said Amerioan Savings & Loan Assooiation and all olaims
for labor and materials are approved by the City Engineer or the
Superintendent of the Light, Power and Water Department and paid
direotly to the person, firm or corporation performing suoh labor
or furnishing such materials by said Amerioan Savings & LOan
Association, and that ten (10) per oent of said deposit is held
until thirty-five (35) days after the filing of notioe of oompletion
of said work and improvements, that the City of Anaheim will be
adequately proteoted in the matter.
NOW, THEREFORE, BE IT RESOLVED by the City Counoil of the
City of Anaheim that said Allo Construction Corp. be, and it is
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hereby, authorized to deposit the sum of $18,800.00, lawful money
of the United States, with Amerioan Savings & Loan Assooiation, as
esorow agent, as seouri ty for the payment of the cOst of all labor,
materials and equipment in making the street improvements and the
sewer and water improvements, and all engineering, inside of Traot
No. 25)0, and that the money deposited by said Allo Construotion
Corp. with the Amerioan Savings & Loan Assooiation, Whittier,
California, as esorow agent, as security for the furnishing and
payment of all labor, materials and equipment required for the
making, installation and oompletion of said improvements, may be
used from and after the exeoution of an agreement by and between
the City of Anaheim, Allo Construction Corp. and Amerioan Savings
& Loan Assooiation to make progress payments to pay for materials
furnished and labor performed in the making and oompletion of said
improvements, suoh progress payments to be made as follows:
Progress payments shall be made not
oftener than twioe monthly, and in
the manner herein provided.
That all suoh progress payments shall be made directly
by said Amerioan Savings & Loan Assooiation to the person, firm
or oorporation furnishing suoh materials or performing suoh labor,
upon written itemized statements showing the furnishing of suoh
materials or the performanoe of suoh labor, approved by the City
Engineer for labor and materials furnished for street and sewer
improvements, and approved by the Superintendent of the Light,
Power and Water Department for water mains and lines.
AND BE IT FURTHER RESOLVED that the Mayor and the City
Clerk be, and they are hereby, authorized to enter into and exeoute
an agreement for and on behalf of the City of Anaheim with Allo
Construotion Corp. and Amerioan Savings & Loan Assooiation, Whittier,
California, in a form approved by the City Attorney, inoorporating
the provisions of this resolution and providing for payment of said
depOsit to the City of Anaheim, or so much thereof as may be neces-
sary to reimburse the City, in the event of default by said above
named corporation in the performance of said agreement. That said
agreement shall be dated the 3rd day of Deoember, 1957.
THE FOREGOING RESOLUTION is approved and signed by me
this 3rd day of December, 1957.
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ATTEST:
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I k '-hr. a/~;:t__~~_j
~h CLERJ{ OF THE CITY OF A1iAHEIlI
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STATE OF CALIFORNIA)
COUNTY OF ORANGE )ss.
CITY OF ANAHEIM )
........
I, DENE M. WILLIAMS, City Clerk of the City of Anaheim,
do hereby certify that the foregoing Resulution was duly' passed and
adopted at an adjourned regular meeting of the City Council of the
City of AnaKeim, held on the 3rd day of December, 1957, by the
fallowing vote of the members thereof:
AYES: COUNCILMEN: Pearson, Coons,. Schutte and Wisser
NOES: COUNCIlMEN: None
ABSENT: COUNG IlMEN I Fry
AND I FURTHER CERTIFY tha t the Mayor of the City of
Anaheim approved and signed said ResolutIon on the 3rd day of December,
1957.
IN WITIfESS WHEREOF, I have hereunto set my hand and
affixed the seal of the City of Anaheim this 3rd day of December,
1957.
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DITY CLERK OF THE CITY OF ANAHEIM
{SEAL)
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