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I <br /> Councilmcml~ Peterson introduced thc following resolution and moved for its adoption: <br /> <br />I i RESOLUTION g93.11-261 <br /> <br /> RESOLUTION AUTHORIZING THIRD PARTY PAYMENT FOR WATERMAIN, <br />I STORM SEWI~_R, AND SANITARY SEWER IN ACCORDANCE WITH PLEDGE <br /> AND PAYI~E~ N~ AGREEMENT FOR WOOD POND HILLS 3RD ADDITION <br />I 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 />I WHERE*s, the City Council accepted a "Pledge and Payment Agreement" in lieu of the <br /> standard fman~al guarantee; and <br /> WIlE ~RE.&S, the Pledge and Payment Agreement states that all construction payments <br />I must first bo:~vi0wed and accepted by the City prior to authorizing the third party, identified as <br /> Chicago Titl~ [nsth'anc¢ Company, to pay down on the funds identified in the Pledge and Payment <br /> Agreement; ~ <br />I WHEREAS, the developer has submitted construction bills for the installation of <br />I Wan: n,s ~t~n'm ~ewer and sanitary sewer payable to C.W. Houle in the amount of $127,330.87; <br /> WHEREAs, the City Engineer has reviewed said bills and agrees that the construction <br />1 O bill does coincide with improvements that have been installed in Wood Pond Hills 3rd Addition <br /> and recommc~ndsiPayment to C.W. Houle in the amount of $127,330.87 by Chicago Title <br /> Insurance CO~patiy. <br />I NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br /> OF RAMSES, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br /> 1) That tb¢ City Council hereby authorizes Chicago Title Insurance Company to pay <br />I $127,3¢0.87 to C. W. Houl¢ for payment of installation of watermain, storm sewer and <br /> sanitar~ sewer in Wood Pond Hills 3rd Addition. ' <br /> <br />I 2) That t~e i~ity Council directs the Finance Officer to forward a certified copy of this <br /> resolution to Chicago Title Insurance Company. <br /> <br />I The motion f~ the adoption of the foregoing resolution was duly seconded by Councilmember <br /> Hardin and upon vote being taken thereon, the following voted in favor thereofi <br />I May°r C'dll~rtSan <br /> Counc~ Peterson <br /> Counciln~ I~ Hardin <br />I and the following votrxt against the same: <br /> None <br /> <br /> and the following abstained: <br />Iie <br /> <br /> <br />