Agenda - Council - 04/25/1989 - Laserfiche WebLink

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Eo Go time of the completion of the improvements in the amount of Five thousand ($5,000.00) dollars, This security shall be deposited with the CiD' in the form of cash escrow or a Letter of Credit in a form to be acceptable to the City. This security shall be held by the City for One (1) year from the date of final acceptance of the improvements. GRADING AND DRAINAGE PLA~. The Developer shall comply with grading and drainage plans submitted to and approved by the City EnKineer. BUILDJNG PER.MITS. The Developer a~rees that in compliance with City Code, no building permits for any lot in the plat shall be issued until the financial guarantees as described above have been provided and that all the ~rading and classified gravel has been placed on the roads. STAGE II IMPROVEMENTS. The Developer shall be required to complete Stage 2 Improvements (sealcoating) as provided in Section 170.03 of the City Code. In addition, the Developer sha)] provide a financial guarantee to the City for these improvements. This guarantee shall be the form of a cash deposit or a City approved Letter of Credit in an amount of Five thousand ($5,000.00) dollars. This guarantee shall be provided to the Cit.>, prior to the issuance of any building permits on any lot in the plat. DEVELOPlx~.E?','T AGREEMENT. The Developer aKrees to enter into a Development Agreement with the City of Ramsey. The motion for the adoption of the foregoing resolution was duly seconded by Councilmember and upon vote being taken thereof, the following voted in favor thereof: The following voted against: The following abstained: The following were absent: V,?nereupon sa~d resolution was declared duly passed and adopted by fine Ramsey CiD' Council this ~ov ~'~ ~"'m 1989. ATTE S T: ;~;avor