HomeMy WebLinkAbout1993-08-17; City Council; 12367; APPROVAL OF THE RELEASE FROM A DEVELOPMENT IMPROVEMENT AGREEMENT CT 81-10, CARLSBAD RESEARCH CENTER*
A DEVELOPMENT IMPROVEMENT AGREEMENT
CT 81 -1 0, CARLSBAD RESEARCH CENTER
Adopt Resolution NO. 9 3 - dY/ approving the release from a Development Improvemd
Agreement entered into between the City of Carlsbad and Carlsbad Tract 81 -1 0, Carlsb
Research Center, on November 16, 1981. Authorize the City Clerk to release the bor
in accordance with State Law and City Ordinances.
ITEM EXPLANATION:
Carlsbad Tract 81-10 entered into an agreement with the City on November 16, 1981
the construction of half-median improvements on El Camino Real along the subdivisi
frontage. The City is currently constructing these improvements and requires that paymc
be made at this time. The obligation was satisfied when the City received payment in t
amount of $1 13,758.88. Faithful Performance and Labor and Materials Bond No. 41 648
for the half-median improvement will be released. Payment has been deposited into t
project account.
FISCAL IMPACT;
1. Location map.
2. Resolution No. 9 3 - 2 Y ' approving the release from the Development Improvemc Agreement and releasing of outstanding bonds.
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I LOCATION MAP
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PROJECT NAME PROJECT# EXH
CARLSBAD RESEARCH CENTER CT 81-10 1
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RESOLUTION NO. 9 3 -24 1
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD,
CALIFORNIA, APPROVING THE RELEASE FROM THE DEVELOPMENT
IMPROVEMENT AGREEMENT AND RELEASING OF THE OUTSTANDING
BONDS FOR HALF-MEDIAN IMPROVEMENTS FOR CARLSBAD TRACT
81 -1 0, CARLSBAD RESEARCH CENTER
WHEREAS, Carlsbad Research Center has fulfilled their obligation for the Devela
Improvement; and
WHEREAS, the City of Carlsbad has determined it to be in the public interest to r
the obligation.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Ca
California, as follows:
1. That the above recitations are true and correct.
2. That the Mayor is authorized to approve the release and the City Engir
authorized to cause the release of bonds for half-median improvements.
PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City (
held on the 17th day of AUGUST , 1993 by the following vote, to wit:
AYES: Council Members Lewis, Stanton, Nygaard, Finnila
NOES: None
ABSENT: Council Member Kulchin
ATTEST:
(SEAL)
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