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8. Financial security. The city will require that a financial security, in a form acceptable to the city, be <br />provided as part of a development agreement or applicable permit to ensure compliance and performance <br />of the landscape plan. The financial security will be released to the applicant upon verification by the city <br />that the landscape plan was followed, and that all landscape materials are planted and in a reasonable state <br />of health. The financial security may be used to replace any landscape materials that have become <br />damaged or diseased after planting. Adequate security must be met retained to ensure performance for at <br />least two years after the installations have been completed. <br />SECTION 2. Effective Date. This ordinance shall become effective immediately upon adoption and <br />publication in the official newspaper of the City of Lake Elmo. <br />SECTION 3. Adoption Date. This Ordinance 2023-04 was adopted on this ______day of _______, 2023, <br />by a vote of __ Ayes and ___Nays. <br /> <br /> LAKE ELMO CITY COUNCIL <br /> <br /> _________________________________ <br /> Charles Cadenhead, Mayor <br /> <br />ATTEST: <br /> <br />___________________________ <br />Julie Johnson, City Clerk <br /> <br /> This Ordinance 2023-04 was published on the ____ day of ___________________, 2023. <br />