Ordinance No. 260ORDINANCE NO. 260
AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF CYPRESS
AMENDING ORDINANCE NO. 77 THE SUBDIVISION ORDINANCE, AS
AMENDED BY ORDINANCE NO. 209
THE CITY COUNCIL OF TILE CITY OF CYPRESS DOES ORDAIN AS FOLLOWS
SECTION I Section 5-18 of ordinance No. 77 the Subdivision Ordinance
as amended, is hereby amended by deleting the existing Subsections (f) and
(g) and adding Subsection (f) as follows
(f) To assure the City that this work will be completed, a cash
deposit instrument of credit from a financial institution subject
to regulation by the State and Federal Government, or bonds of duly
authorized corporate sureties guaranteeing faithful performance and
guaranteeing payment for labor and materials pursuant to the provisons
of Section 11612 of the Business and Professions Code of California,
shall be furnished the amount of this deposit instrument of credit
or bond shall be in the amounts and for the following purposes (1) An
amount determined by the governing body not less than 50 percent nor
more than 100 percent of the total estimated cost of the improvement
conditioned upon the faithful performance of the agreement or contract and
(2) an additional amount determined by the governing body not less than
50 percent nor more than 100 percent of the total estimated cost of the
improvement securing payment to the contractor, his subcontractors and
to persons renting equipment or furnishing labor or materials to them
for the improvement.'
PASSED AND ADOPTED by the City Council of the City of Cypress at a
regular meeting held on the 12th day of April 1965.
ATTEST
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CITY CLERK OF THE CITY OF CYPRESS
STATE OF CALIFORNIA )
COUNTY OF ORANGE )
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MAYOR OF THE CI OF CYPRESS
I DARRELL ESSEX, City Clerk of the City of Cypress 1)0 HEREBY CERTIFY
that the foregoing Ordinance was adopted at a regular meeting of the City
Council held on the 12th day of April, 1965, by the following vote
AYES 5 COUNCILMEN Gorzeman, Kanel McCarney Wright and Noe
NOES 0 COUNCILMEN None
ABSENT* 0 COUNCILMEN None
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CITY CLERK OF THE CITY OF CYPRESS
Ordinance Nn_ 26n