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RESOLUTION NO. 2069 <br />CITY OF MOUNDS VIEW <br />COUNTY OF RAMSEY <br />STATE OF MINNESOTA <br />RESOLUTION AUTHORIZING RELEASE OF INTEREST AND ASSESSMENT <br />GUARANTEE BOND FOR DEVELOPMENT AGREEMENT NO. 82-52 WITH <br />KRAUS-ANDERSON DEVELOPMENT CORPORATION AND M & E REALTY COMPANY <br />WHEREAS, the Developer, Kraus -Anderson Development <br />Corporation and M & E Realty Company, were required'in <br />Development Agreement No. 82-52 to post securities in the amount <br />of $470,250 to assure payment of taxes and assessments due and <br />payable in 1963, 1984 and 1985 and to guarantee payment of costs <br />incurred by the City in the event the public improvements for the <br />project were not constructed; and <br />WHEREAS, the improvements were installed and accepted and <br />all assessments noted above have been paid; and <br />Po'HEREAS, the City of Mounds View will continue to hold the <br />Performan:e Bond in the amount of $90,000 submitted by the <br />Developer to assure completion of all requirements of Development <br />Agreement No. 82-52; and <br />NOW, THEREFORE, BE IT RESOLVED by the City Council of the <br />City of Mounds View that satisfactory completion of public <br />improvements and payment of taxes and assessments due and payable <br />in 1983, 1984 and 1985 for Development Agreement•.No. 82-52 is <br />hereby acknowledged and release of -the $470,250 bond is hereby <br />authorized. <br />ATTEST: <br />(SEAL) <br />Adopted this 9th day of September, 1986. <br />Mayor <br />Clerk -Administrator <br />�J <br />