HomeMy WebLinkAbout1977-241 CCR Member Gene Lhotka introduced the following resolution
and moved its adoption:
RESOLUTION NO. 77 -241
RESOLUTION DIRECTING DISBURSEMENT OF $13,500 CASH ESCROW
FOR CERTAIN SUBDIVISION IMPROVEMENTS IN "THE PONDS" (PHASE I)
WHEREAS, on June 9, 1977, the Meadow Corporation entered into
a Financial Performance Guarantee Agreement with the City of Brooklyn
Center to guarantee the installation of survey monuments and the
a m
p y ent of Street Surfacing Improvement Project No. 1977 -3 and Curb
Gutter Improvement Project No. 1977 -4 in The Ponds subdivision,
Phase I, and;
WHEREAS, the Meadow Corporation deposited checks in the amount
of $7,500.00 and $6,000.00 with the City of Brooklyn Center to guarantee
the above improvements; and
WHEREAS, the said street surfacing and curb and gutter improve-
ments have been completed and all costs have been tabulated; and
WHEREAS, the amount of improvements remaining to be completed
under said cash escrow is estimated to cost $1,000.00.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City
of Brooklyn Center to direct the City Treasurer to negotiate the
existing cash escrow and credit the proper construction account as
follows:
Street Surfacing Improvement Project No. 1977 -3 $5,266.63
Curb and Gutter Improvement Project No. 1977 -4 4,145.27
Total 9,411.90
BE IT FURTHER RESOLVED that the City Treasurer retain the
balance of $1,000.00 until completion of the remaining improvements
covered by the Financial Performance Guarantee Agreement and issue a
check in the amount of $3,088.10 to the Meadow Corporation, which
amount represents the difference to be returned to them as cash escrow
excess.
December 12 1977'
Date v Mayor
ATTEST
Deputy Clerk
i
RESOLUTION NO. 77 241
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: Philip Cohen,
Tony Kuefler, Bill Fignar, and Gene Lhotka;
and the following voted against the same: none,
whereupon said resolution was declared duly passed and adopted.
I