HomeMy WebLinkAbout1978-120 CCR Member Celia Scott introduced the following resolution
and moved its adoption:
RESOLUTION NO. 78 -120
RESOLUTION DIRECTING THE DISBURSEMENT OF THE BALANCE
OF THE CASH ESCROW FOR BAERG'S 2ND ADDITION
WHEREAS, on July 14, 1976, the City of Brooklyn Center received
a Guaranteed Investment Bond in the amount of $15,500.00 to guarantee
certain subdivision improvements for Baerg's 2nd Addition as set forth
in the Financial Performance Guarantee by Developer, dated July 13,
1976; and
WHEREAS, on October 4, 1976, the City Council adopted Resolution
No. 76 -142 directing the City Treasurer as follows:
a) To negotiate the Guaranteed Investment Bond and credit
the proper accounts the amount of $7,907.78 for street
surfacing;
b) To retain $5,000.00 to guarantee the remainder of the
improvements;
C) To issue a check in the amount of $2,592.22 to David
Baerg as cash escrow excess; and
WHEREAS, all subdivision improvements have now been compldted.
NOW, THEREFORE, BE IT RESOLVED that the Guaranteed Investment
Bond in the amount of $5,000.00 be released to Mr. David Baerg.
June 19, 1978 f
Date MaY9
ATTEST:
Clerk
The motion for the adoption of the foregoing resolution was duly
seconded by member Tony Kuefler and upon vote being taken
thereon, the following voted in favor thereof: Dean Nyquist, Tony Kuefler,
Bill Fignar, Gene Lhotka, and Celia Scott;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.