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CITY OF LAKE ELMO, MINNESC T A ORDINANCE NO. 3033 AN ORDINANCE REPEALING SECTIONS 401.500 THROUGH 401.5� AND THEIR SUBDIVISIONS FROM THE LAKE ELMO MUNICIPAL CODE AND ADDING SECTION 401.505 AND ITS SUBDIVISIONS TO THE LAKE ELMO MUNICIPAL CODE RELATING TO IMPROVEMENTS WITHIN SUBDIVISIONS. The City Council ordains that Sections 401,500 through 401.530 be deleted from the Municipal Code. The City Council ordains that Section 401,505 is hereby added to the Lake E{mo Municipal Code to read as follows: 401.505 REQUIRED IMPROVEMENTS/FINANCIAL ARRANGEMENTS A. Prior to the acceptance of the Final Plat, the Developer shail enter into a Developer's Agreement with the City of Lake Elmo. In conjunction with this contract, the Developer small deposit with the City Administrator either a cash deposit or a letter of credit, approved as to form by the City Attomey, in an amount equal to 1.25 times the City Engineer's estimated cost of the Improvements and administrative fees. B. Upon execution of the Developer's Agreement, tine '.�'asv4 iopsr shall deliver to the City Engineer the Final Grading Plan and t"e Final Plat. The City Engineer shall prepare construction plans and specifications. The City of Lake Elmo shall adverllss for bids and award a construction contract for Improvements within the subdivision. The City Engineer shall stake, Inspect and manage construction of the Improvements. Upon completion of the improvements, the City Engineer shall prepare record drawings. C. Upon execution of the Developer's Agreement, the Developer shall construct site and street grading within the ��ubdivision. All streets shall be graded to within i 0.20 feet of subgrade elevation. All unsuitable material within the street shall be removed by the Developer. Topsoil shall be spread over all disturbed areas.