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RESOLUTION NO. - 08
A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF DUBLIN
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PARTIAL RELEASE OF SECURITY FOR TRACT 7642,
SORRENTO AT DUBLIN RANCH, NEIGHBORHOOD 1
WHEREAS, the subdivider of Tract 7642, Sorrento at Dublin Ranch I, LP, a California Limited
Partnership, filed on July 7, 2006, in Book 291 of Maps at Pages 51-58, previously entered into a Tract
Improvement Agreement with the City of Dublin dated May 16, 2006, to improve said Tract in
accordance with plans on file with the City Engineer (Resolution 63-06); and
WHEREAS, the improvements for Tract 7642 are more than 80% complete in accordance with
said plans, and any approved modifications thereto, to the satisfaction of the City Engineer; and
WHEREAS, the Performance Bond, and the Labor and Materials Bond can he partially released,
in accordance with the authority contained in 966499.7 of the Government Code of the State of California;
NOW, THEREFORE, BE IT RESOLVED that:
1. The original Labor and Materials Bond issued by Fidelity and Deposit Company of
Maryland in the amount of $875,000 for the tract improvements (Bond No. 08840667) be
reduced to an amount of$219,000; and
2. The original Performance Bond issued by Fidelity and Deposit Company of Maryland in
the amount of $875,000 for the tract improvements (Bond No. 08840667) be reduced to an
amount of$219,000.
PASSED, APPROVED AND ADOPTED this 1 st day of April, 2008, by the following vote:
YES:
NOES:
ABSENT:
ABSTAIN:
Janet Lockhart, Mayor
ATTEST:
City Clerk
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