HomeMy WebLinkAbout1992-05-19; City Council; Resolution 92-136r
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RESOLUTION NO. 92 - 13 6
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF CARLSBAD, CALIFORNIA AUTHORIZING THE CITY CLERK
TO RELEASE THE GUARANTEE OF FUNDING FROM CERTAIN
PROPERTY OWNERS WITHIN ZONE 5 FOR THE IMPROVEMENTS
TO PALOMAR AIRPORT ROAD EAST
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I WHEREAS, On April 24, 1990 the City Council of the City of Carlsbad adopted
6 Resolution No. 90-123 approving and authorizing the Mayor to execute and agreement with
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to Palomar Airport Road East in compliance with Growth Management Requirements; and 8
certain owners of property within Zone 5 providing a guarantee of funding for improvements
9 WHEREAS, the City of Carlsbad has secured an alternative for of funding in the form
10 of TRANSNET (Prop A) funds for the improvements to Palomar Airport Road East; and
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WHEREAS, the funding guarantee supplied by the various property owners within Zone
5 are no longer necessary in light of the secured funding from TRANSNET for the
l3 // improvement to Palomar Airport Road.
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NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of Carlsbad,
California that: 16
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19 following property owners within Zone 5:
1) The above recitations are true and correct.
2) The City Clerk is authorized to release the performance bonds posted by
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Upland Industries Corporation $1,012,293
Carlsbad Airport Centre, Ltd. $681,601
Carlsbad Oaks East $232,199
MorganIPalomar Industrial I $ 45,602
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3) The Finance Director is authorized to reimburse the cash deposit submitted by
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A ll Mr. Kenneth Saterlee in the amount of $6,327. 2
3 II PASSED, APPROVED AND ADOPTED at a regular meeting of the Carlsbad City Council
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6 NOES: None
held on the 19th day of MAY , 1992 by the following vote, to wit:
AYES: Council Members Lewis, Larson, Stanton, Nygaard
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ABSENT: Counci
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lo ATTEST:
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13 b&THAvEdJT@KRANZ, City Clerk
(SEAL)
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KAREN R. KUNDTZ, Assistant City Clerk
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