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cannot be waived. <br /> <br />Councilmember Cox stated that petitions should be submitted to Council for <br />review even if they are submitted after the cut-off date. <br /> <br />Mr. Hartley stated that this project is small enough to be added as a change <br />order to the existing contract for improvements to 153rd provided there is a <br />100% petition and it is acceptable to the contractor. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember $orteberg to adopt <br />Resolution #86~20adeclaring adequacy of petition, ordering preparation of <br />report and calling for public hearing on August 26, 1986 for improvements to <br />153rd Lane from Rhinestone to Ramsey Blvd. N.W. (Please refer to resolution <br />file for Resolution #86~20a . <br /> <br />Motion carried. Voting Yes: Acting Mayor Reimann, Councilmember$ Sorteberg, <br />Cox and $chlueter. Voting No: None. <br /> <br />Motion by Councilmember Cox and seconded by Councilmember Sorteberg to adopt <br />Resolution #86~20bidentifying benefitted property owners on 153rd Lane from <br />Rhinestone to Ramsey Blvd. (Please refer to resolution file for Resolution #86- <br />~20~. <br /> <br />Motion carried. Voting Yes: Acting Mayor Reimann, Councilmembers Sorteberg, <br />Cox and Schlueter. Voting No: None. <br /> <br />Request For Clarification On Escrow Amount Required FrOm <br /> Flintwood Hills III Addition: <br /> <br />Mr. Raudio stated that Council established the escrow amount as 20% for <br />Flintwood III; that he was of the understanding that it was the developer's <br />option to provide 20% letter of credit or a cash deposit equal to 15% of the <br />project cost. <br /> <br />Mr. Goodrich stated that City ordinance states that the minimum amount that <br />will be required of the owner is a cash deposit equal to 15% of the cost of the <br />project; in lieu of this cash deposit, the owner may file a letter of credit at <br />20%. Council action on Flintwood III in late June of 1986 was to require a <br />20% letter of credit. Mr. Raudio wants the option to convert the 20% letter of <br />credit to 15% cash deposit; in essence, that would be reducing his escrow <br />amount by 5%. Mr. Goodrich stated that when Council voted for a 20% letter of <br />credit, in theory, they were requiring a minimum of 20%. <br /> <br />Mr. Raudio suggested that in the future Council set a minimum cash deposit <br />amount and a minimum letter of credit amount and let the developer choose <br />between the two. <br /> <br />Council consensus was that their intention was and is for a 20% letter of <br />credit or a 20% cash deposit in the Flintwood III case. <br /> <br />Use Of DNR Funds Granted For Flood Assistance: <br /> <br />Mr. Raatikka stated that DNR has approved granting Ramsey a maximum of $15,000 <br /> August 12, 1986 <br /> <br />Page 10 of 14 <br /> <br /> <br />