1955-2640RESOLUTION NO. 2640
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF ANAHEIM AUTHORIZING THE DEPOSIT IN ESCROW
WITH SOUTHERN FEDERAL SAVINGS AND LOAN ASSOCIA-
TION OF LOS ANGELES BY HAWAIIAN VILLAGE, LTD,
OF FUNDS REQUIRED FOR THE FURNISHING, INSTAL-
LATION, AND COMPLETION OF ALL IMPROVEMENTS
REQ':IRED BY THE CITY OF ANAHEIM IN TRACT NO.
2288; AND AUTHORIZING THE MAYOR AND CITY CLERK
TO EXECUTE AN AGREEMENT FOR AND ON BEHALF OF
THE CITY OF ANAHEIM.
WHEREAS, Hawaiian Village, Ltd., a limited partnership,
has submitted to the City Council of the City of Anaheim a Tract
Neap for Tract 2288 and has requested the City Council to finally
approve said Tract Map; and
WHEREAS, said Hawaiian Village, Ltd. has agreed to
furnish or cause to be furnished and to pay for all labor, ma-
terials 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, install all street lights,
and do all engineering required inside said Tract 2288, as re-
quired by the City of Anaheim acting by and through the City
Engineer and the Superintendent of the Light, Power and Water
Department of the City of Anaheim, 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, Power and Water of
the City of Anaheim, said improvements to be completed on or
before twelve (12) months from the 18th day of February, 1955;
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, Hawaiian Village, Ltd. desires to deposit with the
Southern Federal Savings and Loan Association of Los Angeles,
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
perfoi of all work for the installation and completion
of said improvements, as a guarantee that said Hawaiian Village,
Ltd. will make or cause to be made and completed said improve-
ments 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 Sixty -nine Thousand Three Hundred Dollars ;69,300); and
WHEREAS, the City Council finds that if said sum is
deposited with said Southern Federal Savings and Loan Associa-
tion and all claims for labor and materials are approved by
the City Engineer or the Superintendent of the Light, Power
and Water Department of the City of Anaheim, and paid directly
to the person, firm or corporation performing such labor or
furnishing such materials by said Southern Federal Savings and
Loan Association, and that twenty (20) per cent 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 Hawaiian Village, Ltd., a
limited partnership, be, and it is hereby, authorized to de-
posit the sum of Sixty -nine Thousand Three Hundred Dollars
($69,300), lawful money of the United States, with Southern
Federal Savings and Loan Association, 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 improvements, installing the street lights, and
doing all engineering inside of Tract No. 2288, and that the
money deposited by said Hawaiian Village, Ltd. with the Southern
Federal Savings and Loan Association of Los Angeles, California,
as escrow agent, as security for the furnishing and payment of
all labor, materials and equipment required for the making, in-
stallation and completion of said improvements, may be used
from and after the execution of an agreement by and between the
City of Anaheim, Hawaiian Village, Ltd. and Southern Federal
Savings and Loan Association, 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:
That all such progress payments shall be made directly
by said Southern Federal Savings and Loan Association to the
person, firm or corporation furnishing such materials or perform-
ing such labor, upon written itemized statements showing the
furnishing of such materials or the performance of such labor,
approved by the City Engineer for labor and materials furnished
for street and sewer improvements, and approved by the Superin-
tendent of the Light, Power and Water Department for water mains
and lines.
AND BE I"T FURTHER RESOLVED that the Mayor and the City
Clerk be, and they are hereby, authorized to enter into and
execute an agreement for and on behalf of the City of Anaheim
with Hawaiian Village, Ltd., a limited partnership, and the
Southern Federal Savings and Loan Association of Los Angeles,
California in a form approved by the City Attorney, incorporat-
ing 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 Hawaiian Village, Ltd. in the performance of said agree-
ment. That said agreement shall be dated the 18th day of
February, 1955.
THE FOREGOING RESOLUTION is signed and approved by me
this 21st day of February, 1955.
ATTEST:
Progress payments shall be made not oftener
than twice monthly, and in the manner herein
provided.
C Y CLE OF TEE CITY OF ANAHEIM.
MAYOR OF THE CITY OF ANAHEIM.
-2-
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 resolution was introduced
and adopted at an Adjourned Regular Meeting provided by law of
the City Council of the City of Anaheim held on the 21st day of
February, 1955, by the following vote:
(SEAL)
AYES: COUNCILMEN:
NOES: COUNCILMEN:
ABSENT: COUNCILMEN:
Pearson, Fry, Schutte, Wisser,
and Van Wagoner.
None.
None.
And, I FURTHER CERTIFY that the Mayor of the City of
Anaheim approved and signed said resolution on the 21st day of
February, 1955.
IN WITNESS WHEREOF, have hereunto set my hand and
affixed the official seal of the City of Anaheim this 21st day
of February, 1955.
City Clerk of the City of
Anaheim, California