HomeMy WebLinkAboutAGENDA REPORT 1998 0318 CC REG ITEM 11FTO:
FROM:
DATE:
SUBJECT:
AGENDA REPORT
CITY OF MOORPARK
The Honorable City Council
Dirk Lovett, Assistant City Engineer
Prepared by Jim Colton, Associate Civil Engineer
ITEM I I't f •
CrrY OF MOORPAR& CALIFORNIA
City Council Meeting
Of March 112 199
ACTION: /%�Jro Vfaf
BY.'
March 10, 1998 (City Council Meeting of March 18, 1998)
Consider request for the Exoneration of Bonds for improvements in the following
Tracts in Mountain Meadows: 4340, 4340 -4, 4341 -1, 4342 -2, 4342 -5 (UWC-
Moorpark Investors, LTD)
BACKGROUND
The Mountain Meadow Tracts are located west of Tierra Rejada Road and south of the Arroyo
Simi Channel.
The bonds described below for street, storm drain, grading, and model conversion improvements
have been previously reduced by Council action in the past.
DISCUSSION
The City is in receipt of a letter from UWC- Moorpark Investors, LTD requesting the exoneration
of a number of bonds for improvements for Tracts within PC -3. City Engineering has reviewed
the request and based on the status of the improvements guaranteed by those bonds, recommends
that certain improvements be accepted as complete and the respective bonds be exonerated.
Provided below is a chart describing the past actions along with the recommended actions.
l9A -q/( 11
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TRACT
BOND
NO.
TYPE
BOND AMT.
PREVIOUS
RECOMMENDED
REMAINING
COUNCIL
ACTION
COUNCIL
ACTION
1
4340
32539849
Grading
$59,400
Reduce to
10%
Exonerate
2
4340 -4
19090808
P &P
$18,670
Reduce to
10%
Exonerate
3
4341 -1
32649093
P &P
$82,455
Reduce to
15%
Exonerate
l9A -q/( 11
00010S,
RECOMMENDATION
1) Accept the subject improvements as complete.
2) Authorize the City Clerk to exonerate the bonds as set forth in the above table of this report.
cc: Ken Gilbert
City Clerk
Chron
File
(BOND_EX2.WPD)
Ila,.q1�Pj
J
Lit 0
TRACT
BOND
NO.
TYPE
BOND AMT.
REMAINING
PREVIOUS
COUNCIL
ACTION
RECOMMENDED
COUNCIL
ACTION
4
4342 -2
32540029
P &P
$3,570
Reduce to
10%
Exonerate
5
4342 -5
32649051
P &P
$17,880
Reduce to
10%
Exonerate
Model
27012232
Surety
$12,000
Reduce to
15%
Exonerate
Model
27012075
Surety
$12,000
Reduce to
15%
Exonerate
RECOMMENDATION
1) Accept the subject improvements as complete.
2) Authorize the City Clerk to exonerate the bonds as set forth in the above table of this report.
cc: Ken Gilbert
City Clerk
Chron
File
(BOND_EX2.WPD)
Ila,.q1�Pj
J
Lit 0
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