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2006-14 RESOLUTION NO. 2006- 14 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GRAND TERRACE, APPROVING FINAL TRACT MAP NO. 16624 AND ACCEPTING A PLEDGED SECURITY DOCUMENT WHEREAS, Tentative Tract Map No. 16624, has been previously approved by the Planning Commission on November 10, 2005; WHEREAS, all the conditions of approval for the recordation of Final Tract map No. 16624, have been met by the Owner Benjamin B. Karger; NOW THEREFORE, BE IT RESOLVED by the City Council of the City of Grand Terrace that the City Council approves Tract Map No. 16624 and accepts a Pledged Security Document as defined below, naming the City of Grand Terrace as beneficiary for the performance guarantee for street and utility improvements. The Pledged Security Document is a line of credit that the City can draw against in the event street and utility improvements are not completed on Tract No. 16624. Improvements to be made on De Berry Street and Mirado Way. Street Improvements Water Line Improvements Sewer Line Improvements Storm Drain Improvements Communication Improvements BE IT FURTHER RESOLVED that the Mayor be authorized to execute the Tract Map Agreement on behalf of the City. PASSED, APPROVED, AND ADOPTED this 131h day of July, 2006. ATTEST: '_ �%� City Clerk o�Jthe ity of Grand T race ?Mayorpthe60ty the City of Grand Terrace and of the City Council thereof Council thereof RESOLUTION NO. 2006- 14 Page 2 I BRENDA MESA, City Clerk of the City of Grand Terrace, California, do hereby certify that the foregoing resolution was introduced and adopted at a regular meeting of the City Council of the City of Grand Terrace held on the 13th day of July, 2006 by the following vote: AYES: Councilmembers Hilkey, Garcia, and Miller; Mayor Pro Tem Fortes and Mayor Ferre NOES: None ABSENT: None ABSTAIN: None Approved as to form: City Attorney City Clerk �-