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RESOL111 ION NO. 1911 <br />CITY OF MOUNDS VIEW <br />COUNTY uF RAMSEY <br />S'1'A1'E uF MINNESO'I'A <br />RESOLUTION AUTHORIZING RELEASE. OF ESCROW °OR DEVELOPMENT <br />AfiwFFmrNT N,1. HI-43 WITH F. T. HUCHES CQNSTFUCT!u4 <br />WHEREAS, the Developer, E. T. Hughes Construction, in <br />Dvvul„pment Ayreement Nu, 81-41, wuv n„pliir,l lu construct a <br />4-unit residential building; and <br />WHEREAS, the developer was required to post secrlties <br />necessary to assure th3- the improvement was placed and completed <br />in the amount of $11,100; and <br />WHEREAS, the improvements were installed and accepted; and <br />WHEREAS, the imp:ovenients passed the one-year warranty; <br />and <br />1 <br />WHEREAS, during the warranty period the City had no <br />.naintenance problems; and ' <br />WHEREAS, on January 27, 1982, the City of Mounds View <br />reduced the escrow for Development Agreement No. 81-43 with <br />E. T. Hughes Construction from $11,100 to $600; and <br />WHEREAS, City Staff has certified that all terms of the <br />Development Agreement have been met and all outstanding <br />obligations of the developer to the City have been met; <br />NOW, THEREFORE, BE 1T RESOLVED by the Council of the Cit,, <br />of hounds VieW chat satisfactory completion f Development <br />Agreement No. 81-43 is hereby acknoviedg,ed and release of the <br />$6JJ escrow is hereby authorized. <br />ATTEST: <br />(SEAL) <br />Adopted this 23rd day of September, 1985. <br />Clerk -Administrator <br />