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RESOLUTION 80-. <br /> <br /> WHEREAS, there are certain overall economics available when <br />the City permits required improvements in plats to be installed using the <br />Chapter 429 special assessment procedures, and <br /> <br /> WHEREAS, the Chapter 429 procedure gives the City quality con- <br />trol and timing control over improvement constyuction in plats. <br /> <br />NOW THEREFORE, BE IT RESOLVED BY TH~ CITY COUNCIL, CITY OF RAMSEY, ANOKA <br />COUNTY, STATE OF MINNESOTA, as follows: <br /> <br />-- The City Council hereby authorizes City Staff to draft the <br /> a~p~_Q~dinance language, including all necessary <br /> safeguards, in Ord~ a City policy whereby <br /> the required City plat improvements are constructed and <br /> financed pursuant to Minnesota Statutes Chapter 429. <br /> The safeguards shall include: <br /> <br />a) Escrow paid by developer to cover plans and <br /> specifications preparation and public hearing <br /> expenses. <br /> <br />b) Escrow by developers of % of project to cover <br />City's administrative cost. <br /> <br />c) Permit no lot to be sold without payment of out- <br />standing sPecials. <br /> <br />d) Maximum debt retirement of ten (10) years. <br /> <br />e) Developer escrow first two (2) years of principal <br />and interest payments. <br /> <br />f) The developer and City enter into a Development <br />Contract detailing their respective agreements and re- <br />quirements. <br /> <br />g) Developer agrees to reimburse the City for all of <br />its costs incurred in connection with the project includ- <br />ing construction costs, engineering and legal fees, in- <br />spection fees, cost of acquisitions, etc. <br /> <br /> <br />