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Councilmember <br /> <br />introduced the following resolution and moved for its adoption: <br /> <br />RESOLUTION g93-11- <br /> <br />RESOLUTION AUTHORIZING THIRD PARTY PAYMENT FOR WATERMAIN, <br />STORM SEWER, AND SANITARY SEWER IN ACCORDANCE WITH PLEDGE <br />AND PAYMENT AGREEMENT FOR WOOD POND HILLS 3RD ADDITION <br /> <br /> WHEREAS, the City Council of the City of Ramsey approved the final plat for Wood <br />Pond Hills 3rd addition on August 24, 1993; and <br /> <br /> WHEREAS, the City Council accepted a "Pledge and Payment Agreement" in lieu of the <br />standard financial guarantee; and <br /> <br /> WHEREAS, 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 parry, identified as <br />Chicago Title Insurance Company, to pay down on the funds identified in the Pledge and Payment <br />Agreement; and <br /> <br /> WHEREAS, the developer has submitted construction bills for the installation of <br />watermain, storm sewer and sanitary sewer payable to C.W. Houle in the amount of $127,330.87; <br />and <br /> <br /> WHEREAS, the City Engineer has reviewed said bills and agrees that the construction <br />bill does coincide with improvements that have been installed in Wood Pond Hills 3rd Addition <br />and recommends payment to C.W. Houle in the amount of $127,330.87 by Chicago Title <br />Insurance Company. <br /> <br />NOW THEREFORE, BE IT RESOLYED BY THE CITY COUNCIL OF THE CITY <br />OF RAMSEY, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />1) <br /> <br />That the City Council hereby authorizes Chicago Title Insurance Company to pay <br />$127,330.87 to C. W. Houle for payment of insta/lation of watermain, storm sewer and <br />sanitary sewer in Wood Pond Hills 3rd Addition. <br /> <br />2) <br /> <br />That the City Council directs the Finance Officer to forward a certified copy of this <br />resolution to Chicago Title Insurance Company. <br /> <br />The motion for the adoption of the foregoing resolution was duly seconded by Councflmember <br /> and upon vote being taken thereon, the following voted in favor thereof: <br /> <br />and the following voted against the same: <br /> <br />and the following abstained: <br /> <br />and the following were absent: <br /> <br /> <br />