Item 6 - Ordinance No. 188 Second Reading •
AGENDA ,REPORTa •.,�
CITY OF POWAY G\� �y
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Ire •N THE CC}•..
TO: Honorable Mayor and Members of the City Council
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FRCM: Jams L. Bcwersox, City Mana• 1•
INITIATED BY: Marjorie K. Wahlsten, City Cler . -
DATE: April 29, 1986
SUBJECT: Ordinance No. 188 - Second Reading
BACKGROUND •
On April 22, 1986, the City Council introduced and had the first reading on
Ordinance No. 188 - "An Ordinance of the City of Poway, California, Amending
Section 3.28.070(G) of the Pcway Municipal Code Providing for Acceptance of
Letter of Credit or Cash Deposit in Lieu of Surety Bonds. "
FINDIN3S
It is in order to have the second reading and adopt this Ordinance.
m O(BcimATION
C( y` If the City Council desires to adopt, read title and waive further reading of
Ordinance by unaninous vote. Pass motion closing public hearing and adopting
(roll call vote) .
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JLB:MKW:ml • •
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Attachment:
1) Ordinance
ACTION: Ado•ted Ordinance No. 188 •
Jteibert , Deputy City Clerk
�l APR 2 9 1986 ITEM b
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ORDINANCE NO. 188
t.XAN ORDINANCE OF THE CITY OF POWAY, CALIFORNIA Ci
AMENDING SECTION 3.28.070(G) OF
THE POWAY MUNICIPAL CODE PROVIDING FOR
• ACCEPTANCE OF LETTER OF CREDIT OR CASH
DEPOSIT IN I.TFSI OF SURETY BONDS
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WHEREAS, The City Council has determined that bidders on capital improvement
projects should have the option of selecting frau more than one type of perfor-
mance security; and
WHEREAS, the City Council desires to specify the types of acceptable perfor-
mance securities.
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NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF POWAY DOES ORDAIN:
Section 1: Section 3.28.070(G) of the Poway Municipal Code shall be amended
to read as follows:
3.28.070(G) The City shall have authority to require performance and .
labor and materials security before entering a contract in such amount as it
finds reasonably necessary to protect the best interests of the City. If
the City requires security, the form and the amount of the security shall be
described in the notice inviting bids. The notice inviting bids may pro-
vide 'that security may be posted in the form of a surety bond, a letter of
credit drawn on an institution located in San Diego County and approved by
the City Attorney, or a rash deposit.
EFFECTIVE DATE: This ordinance shall take effect and be in force thirty
(30) days after the date of its passage; and before the expiration of fifteen
(15) days after its passage, it shall be published once with the nares and mem-
bers voting for and against the same in the Pcx ay News Chieftain, a newspaper of
general circulation published in the City of Poway.
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Introduced and first read at a regular meeting of the City Council of the
City of Poway held the 22nd day of April, 1986, and thereafter PASSED AND
ADOPTED at a regular meeting of said City Council held the day of
, 1986, by the following roll call vote:
AYES: COUNCIIMEMBEIRS:
NOES: CDUNCIIME BERS:
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. ABSENT: CCLR CILMEMBERS:
Carl R. Kruse, Mayor
Marjorie K. Wahlsten, City Clerk •
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0/Creditl
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