HomeMy WebLinkAboutA027 - Resolution No. 93-007 adopted January 12, 1993 RESOLUTION NO. 93-007
RESOLUTION APPROVING REQUEST TO REDUCE LETTER OF CREDIT
FOR SECURITY FOR PUBLIC IMPROVEMENTS
FOR PRAIRIE WEST SUBDIVISION
AND DIRECTING THE MAYOR TO SIGN AMENDMENT AGREEMENT
WHEREAS, Mid-Land Residential Ventures, Inc. has completed the
installation of public improvements in Prairie West Subdivision; and
WHEREAS, in order to complete the street paving to meet City
specifications, a portion of the pavement must be removed and replaced; and
WHEREAS, in order to guarantee that this work will be completed,
City Staff insisted that a guarantee in the amount of $5,000 be given to the
City; and
WHEREAS, the developer has elected to maintain his current letter of
credit at the $5,000 amount to meet this requirement. _
NOW, THEREFORE, BE IT RESOLVED, by the City Council of the City
of Ames, Iowa, that the request to reduce the Letter of Credit for security
on public improvements for Prairie West PUD be approved, and that the
Mayor be directed to sign the amendment agreement with Bank IV of
Topeka, Kansas.
ADOPTED THIS 12th day of January, 1993.
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Sandra . Ryan, City Clerk Larry Y. Curtis, Mayor
Introduced by: Campbell
Seconded by: Parks
Voting aye: Campbell, Hertz, Hoffman, Parks, Wirth
Voting nay: None Absent: Brown
Resolution declared adopted and signed by the Mayor this 12th day of
January, 1993.