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Councilmcm ~,~ ,Hardin introduced the following resolution and moved for its adoption: <br /> ~i i RESOLUTION #93-11-271 <br />RESOLUTION ?AUTHORIZING THIRD PARTY PAYMENT FOR WATERMAIN, <br />STORM SANITARY SEWER AND STREETS IN ACCORDANCE WITH <br />PLEDGE ~N~ PAYMENT AGREEMENT FOR WOOD POND HILLS 3RD <br />ADDITION <br /> <br /> WHI~.~IEA~S, the City Council of the City of Ramsey approved the final plat for Wood <br />Pond Hills 3~ad~: tion on August 24, 1993; and <br /> WH~ .~.~,s, the City Council accepted a "Pledge and Payment Agreement" in lieu of the <br />standard fin~ial ~pmrantee; and · <br /> <br /> WHEREAS, the Pledge and Payment Agreement states that all construction payments <br />must first be i~vi ~wed and accepted by the City prior to authorizing the third party, identified as <br />Chicago Tiff~ !nstmmce Company, to pay down on the funds identified in the Pledge and Payment <br />Agreement; an~ <br /> WHERE*S, the developer has submitted construction bills for the installation of <br />watermain, S~rrff[:sewer, sanitary sewer and streets payable to C.W. Houle in the amount of <br />$62,496.50; ~d <br /> WHEREAS, the City Engineer has reviewed said bills and agrees that the conslruction <br />bill does coit;~delwith improvements that have been installed in Wood Pond Hills 3rd Addition <br />and recommet~ds payment to C.W. Houle in the amount of $62,496.50 by Chicago Title Insurance <br />Company. ' <br />NOW THEp~EFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY <br />OF RAMSES, ANOKA COUNTY, STATE OF MINNESOTA, as follows: <br />1) That t~e City Council hereby authorizes Chicago Title Insurance Company to pay <br /> $62,4916.50 to C. W. Houle for payment of installation of watermain, storm sewer, <br /> sanihar~ server and streets in Wood Pond Hills 3rd Addition. <br /> That t§e (lity Council directs the Finance Officer to forward a certified copy of this <br /> resolUtiOn lb Chicago Title Insurance Company. <br />The motion fo~ th~ adoption of the foregoing resolution was duly seconded by Mayor Gilbertson <br />and upon vote }~eing taken thereon, the following voted in favor thereof: <br /> Mayor Cdl~rtson <br /> Councilm bor Hardin <br /> CouncilmC~ber Beyer <br /> Councilme~lm, Zimmerman <br />and the follow,g VOted against the same: <br /> None <br /> <br />and the followig, g abstained: <br /> <br /> None <br /> <br />and the foll°W~g Were absent: <br /> · <br /> Councilme b~ Peterson <br /> <br /> <br />