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RESOLUTION NO, 7 2 5 2
A RESOLUTION OF THE CITY COUNCIL OF THE CITY
OF NEWPORT BEACH AUTHORIZING THE EXECUTION
OF AN AGREEMENT WITH IDH, A JOINT VENTURE, AND
GEORGE & WILLIAM HOLSTEIN CO., .INC., AND IDS
MORTGAGE DEVELOPMENT CORP. SUBDIVIDER FOR
THE CONSTRUCTION OF UJOROV NTS IN T1,CT
NO, 7148
WHEREAS, there has been presented to the City Council
of the City of Newport Beach, an agreement in which IDH, a
,joint venture, and George & William Holstein Co., Inc., and
IDS Mortgage Development Corp., subdivider of Tract No. 7148,
agrees to construct street and other public improvements
necessary to serve said subdivision; and
WHEREAS, subdivider has furnished security to assure
the faithful performance under said agreement in accordance
with the Newport Beach Municipal Code; and
WHEREAS, the City Council has reviewed said agreement
and found the same to be fair and equitable and in accordance
with the provisions of the Code;
NOW, THEREFORE, BE IT RESOLVED by the City Council of
the City of Newport Beach that the Mayor and City Clerk are
hereby authorized and directed to execute the same on behalf of
the City of Newport Beach at such time as said security is
approved by the City Manager as to sufficiency and the City
Attorney as to form.
ADOPTED this 10th day of August, 1970.
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