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THE BOARD OF SUPERVISORS OF CONTRA COSTA COUNTYO CALIFORNIA
Adopted this Resolution on August 21, 1990 by the following vote:
AYES: Supervisors Powers, Schroder, Torlakson and Fanden
NOES: None
ABSENT: Supervisor McPeak
ABSTAIN: None
RESOLUTION NO. 90/555
SUBJECT: Amending Subdivision Agreement, Subdivision 7238, Martinez
Area.
The following substitute security to guarantee the road and
drainage improvements as required by Title 9 of the County Ordinance
Code was presented for Board approval this date:
Security with HRC Development as principal in the form of a
letter of credit dated August 6, 1990, issued by Civic Bank of Com-
merce (Letter of Credit No. 00312-DCH) in the amount of $156,420 for
faithful performance and $79,000, for labor and materials.
NOW THEREFORE BE IT RESOLVED that the Subdivision Agreement
approved by the Board on May 22, 1990, is hereby AMENDED to allow
substitution of the above-mentioned letter of credit in place of the
cash security;
BE IT FURTHER RESOLVED that the Public Works Director is AUTHO-
RIZED to refund the cash deposit (Auditor's Deposit Permit No. 172860,
dated May 4, 1990) , in the amount of $235,420 ($156,420 for faithful
performance and $79,000 for labor and materials) , plus interest in
accordance with Government Code Section 53079, if appropriate, to
HRC Development.
I hereby certify that this is a crux and correct copy of
an action taken and entered on the minutes of the
Board of Supervisors on the date shown.
ATTESTED: AUG 2 1 199n
PHIL BATCHELOR,Clerk of the Board
of
Supervisors and Co
u
nty Administrator
-- (!/.c� 9rLa.► -4/i• A
.Deputy
originator: Public Works (ES)
ca: Director of Community Dev.
Public Works Accounting
Construction
HRC Developement
1400 Fashion Island Blvd. #100
San Mateo, CA 94404
Civic Bank of Commerce
100 Hegenberger Rd.
Oakland, CA 94621
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RESOLUTION NO.90/555