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MUNICIPAL PARTICIPATION <br /> <br /> The City will be requested to sell G.O. Bonds to provide the <br />necessary financing for the Development of the Project. The Developer <br />in turn will provide the required security as agreed upon and outlined <br />by the City. <br /> <br />IMPLEMENTATION <br /> <br /> Implementation of the Planned Unit Development takes place with <br />the approval of a Preliminary Plan, which would be, in essence, concept <br />approval of the written portion of the plan. In addition, concept approval <br />of the schematic drawing is entailed in the preliminary stage. <br /> <br /> The Planning Commission is to make reco~-u,Lendations to the City <br />Council regarding the Preliminary Plan. The Planning Commission is to <br />hold a Public Hearing and recommend approval or rejection of the Plan <br />and the Re-Zoning under PUD. <br /> <br /> Upon approval of the Preliminary Development Plan, the Planned <br />Unit Development would be deemed to be a Zoning Change, and the Zoning <br />Map of the City would be ammended accordingly, classifying the area <br />within the Boundary of the Planned Unit Development as "Planned Unit <br />Development". Reference would then be made to the Final Plan and Drawings <br />to the specific usages within the Planned Unit Development. <br /> <br />-4- <br /> <br /> <br />