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P42 <br /> <br />system, and the Council has detailed a $65,000 project within the 2005 Capital Improvement <br />Program. The proposed resolution would authorize staff to receive quotations and proceed with <br />the construction of a trail and attendant bridge to connect Elmcrest Park to the neighborhoods to <br />the south of the park and the west side of St. Francis Boulevard. The project would be funded <br />fi'om the Park Improvement Trust Fund. The recommendation of the Finance Committee was <br />that the City Council adopt the resolution authorizing the construction of trail and bridge <br />connecting Elmcrest Park to the existing trail system. <br /> <br />Motion by Councilmember Cook, seconded by Councilmember Olson, 'to ratify the <br />recommendation of the Finance Committee for Case No. 2 and adopt Resolution #05-08-XX <br />author/zing the construction of trail and bridge connecting Elmcrest Park to the existing trail <br />system. <br /> <br />Further discussion: Councilmember Elvig noted funds for this project would come from the Park <br />Trust Fund. <br /> <br />Motion carried. Voting Yes: Mayor Gamec, Councilmembers Cook, Olson, Etvig, Jeffrey, <br />Pearson, and Strommen. <br /> <br />MAYOR, COUNCIL AND STAFF INPUT <br /> <br />Financial Securities for Ramsey Town Center Subdivisions 6, 8, 9 and 10 <br /> <br />City Attorney Goodrich informed the Council that RTC, LLC is having difficulty posting the <br />entire financial security needed for improvements related to Ramsey Town Center Subdivisions <br />6, 8, 9 and 10. He explained 125% of the engineering estimate is required in security. RTC, <br />LLC is able to provide 100% of the security in cash and would like to provide the remaining <br />25% in land. <br /> <br />Mayor Gamec stated in his opinion more will be required if the sureties will be in land instead of <br />cash. This project is behind, and the City wants it to proceed, but there is a lot that has been <br />promised by RTC, LLC. <br /> <br />City Administrator Norman explained these subdivisions will be held up if the authorization on <br />the financial sureties is required to come back to the Council for approval. <br /> <br />Motion by Mayor Gamec to require that the determination on the financial sureties for Ramsey <br />Town Center Subdivisions 6, 8, 9 and 10 come back to the Council for authorization. <br /> <br />The motion died for lack of a second. <br /> <br />Councilmember Elvig indicated he is not opposed to sureties other than cash. <br />concern is the location and value of the land that would be provided as the surety. <br />question would be whether the City would have first option on the land. <br /> <br />His biggest <br />His second <br /> <br />City Attorney Goodrich replied staff has discussed these issues internally, but does not have <br />specific information available at this time. He explained a title search would be done on the land <br /> <br />City Council / August 23, 2005 <br /> Page 26 of 28 <br /> <br /> <br />