1978-139-Authorizing The town Attorney To File Suit And Draw Funds On Direct Concerning Tract 5902RESOLUTION NO. 1978 -139
RESOLUTION AUTHORIZING THE TOWN ATTORNEY
TO FILE SUIT AND DRAW FUNDS ON DEPOSIT
CONCERNING TRACT 5902
WHEREAS, Gene J. and Gina Rugani (RUGANIS) entered into a contract with
the Town guaranteeing to do certain street improvement work prior to July 1,
1978 in connection with the development of Tract 5902, and
WHEREAS, RUGANIS have posted a letter of credit, No. 54294 dated
March 1, 1978, guaranteeing performance of the work required by the contract,
and the terms of the letter of credit call for it to expire if no demand is
made prior to September 1, 1978, and
WHEREAS, the subdivision improvement work required by the contract and
letter of credit has not been completed.
NOW, THEREFORE, BE IT RESOLVED that the Town Attorney is authorized to
file suit to secure performance of the work required by the contract and to
draw funds on deposit pursuant'to the letter of credit if the work is not
completed prior to August 30, 1978.
PASSED AND ADOPTED at a regular meeting of the Town Council of the Town
of Los Gatos held on the
21st day of
August 1978,
by the
I ollowing vote:
AYES: COUNCIL MEMBERS Ruth Cannon, Thomas J. Ferrito, John B.
Lochner, Peter W. Siemens and Mardi Gualtieri
NOES: COUNCIL MEMBERS None
ABSTAIN: COUNCIL, MEMBERS None
ABSENT: COUNCIL MEMBERS None
1 j'Ti7 -Tr)ll I WMI
ATTEST:
CLERK OF TH -TOWN OF LOS GATOS