HomeMy WebLinkAboutAGENDA REPORT 1998 0415 CC REG ITEM 11HAGENDA REPORT
CITY OF MOORPARK
ITEM
CTTY OF MOORPARK, CALIFORNIA
City Council Meeting
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ACTION:__. pY�V ed
TO: The Honorable City Council gy;r' /1� ?�
FROM: Dirk Lovett, Assistant City Engineer
Prepared by Jim Colton, Associate Civil Engineer
DATE: April 3, 1998 (City Council Meeting of April 15, 1998)
SUBJECT: Consider request for the Exoneration of Bonds for improvements in
the following Tracts in Mountain Meadows: 4340, 4340 -1, 4341 -4, (UWC-
Moorpark Investors, LTD)
BACKGROUND
The Mountain Meadow Tracts are located west of Tierra Rejada Road and south of the Arroyo
Simi Channel. A vicinity map has been attached for your reference.
Bonds described below are for a model conversion and public improvements associated with the
Tracts noted. The City Council has reduced two of the bonds previously to ten percent. The
other bond was for Model conversion purposes.
DISCUSSION
The City is in receipt of a letter from UWC- Moorpark Investors, LTD requesting the exoneration
or reduction 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.
0® (1fj`s
TRACT
BOND NO.
TYPE
BOND AMT.
REMAINING
PREVIOUS
RECOMMENDED
&
SURETY
COUNCIL
ACTION
COUNCIL
ACTION
1
4340 -1
32540250
American
P &P
$111,100
Reduced to
10%
Exonerate
2
4341 -4
32649069
American
P &P
$32,320
Reduced to
10%
Exonerate
0® (1fj`s
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: Steve Kueny
Ken Gilbert
City Clerk
Chron
File
[BOND_EXS.WPD]
00b076
TRACT
BOND NO.
TYPE
BOND AMT.
PREVIOUS
RECOMMENDED
&
SURETY
REMAINING
COUNCIL
ACTION
COUNCIL
ACTION
IL
4340
27012059
American
Model
$80,000
None
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: Steve Kueny
Ken Gilbert
City Clerk
Chron
File
[BOND_EXS.WPD]
00b076
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