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Councilmember <br /> <br />introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION #94-12- <br /> <br /> RESOLUTIONi AUTH,O, RIZING THIRD PARTY PAYMENT FOR WATERMAIN, <br /> STORM SEWER, SANITARY SEWER AND STREETS IN ACCORDANCE WITH <br /> PLEDGE ANID PAYMENT AGREEMENT FOR WOOD POND HILLS 4TH <br /> ADDITION ~ <br /> <br /> WItERE~S, the City Council of the City of Ramsey approved the final plat for Wood <br /> Pond Hills 4th addition on August 24, 1993; and <br /> <br /> WHEREP, S, the City Council accepted a "Pledge and Payment Agreement" in lieu of the <br /> standard financialiguarantee; and <br /> <br /> WHERE~4S, the Pledge and Payment Agreement states that all construction payments <br /> must first be reviewed and accepted by the City prior to authorizing the third party, identified as <br /> Chicago Title Ins/~rance Company, to pay down on the funds identified in the Pledge and Payment <br /> Agreement; and ~ <br /> <br /> WI-IEREhS, the developer has submitted construction bills for the installation of <br /> watermain, storrri sewer, sanitary sewer and streets payable to Kirkwold Construction in the <br /> amount of $32,03~2.58; and <br /> WHERE~S, the City Engineer has reviewed said bills and agrees that the construction <br />bill does coincide yeith improvements that have been installed in Wood Pond Hills 4th Addition and <br />recommends payment to Krikwood Construction in the amount of $32,032.58 by Chicago Title <br />Insurance Company. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF RAMSEY, ~NOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) That the City Council hereby authorizes Chicago Title Insurance Company to pay <br /> $32,032.5~ to Kirkwood Construction for payment of installation of watermain, storm <br /> sewer, san{tary sewer and streets in Wood Pond Hills 4th Addition. <br /> <br />2) That the City Council directs the Finance Officer to forward a certified copy of this <br /> resolution i.o Chicago Title Insurance Company. <br /> <br />The motion for th~ adoption of the foregoing resolution was duly seconded by Councilmember <br /> and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />and the following ioted against the same: <br /> <br />and the following abstained: <br /> <br /> £ <br /> <br />and the following 'd/ere absent: <br /> <br /> <br />