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to the public for public use as parks, play oimds, public open space or storm <br /> water holding areas or ponds, ten percent (10%) of the land of the proposed <br /> subdivision or, at the option of the Municipality, an equivalent of cash equal to • <br /> ten percent (10%) of the market value of the land at the time of the subdivision. <br /> Section 3. Section 1204.02, subd.. 6 is amended to read: <br /> Subd. 6. Dedication for Re-Subdivision: For any subdivision of a parcel on which a <br /> cash dedication for parks has previously been made but on which an additional cash <br /> dedication is required due to re-subdivision, the amount of cash dedication required on <br /> the re-subdivided parcel(s) to be developed for residential uses shall be based on the aew <br /> deaoity market value of the land at the time of re-subdivision based on the schedule <br /> set forth in subdivision 4 of this section Iess any applicable credit for the prior cash <br /> dedication. The amount of cash dedication reavired on the re-subdivided parcel(s) to be <br /> developed for commercial or industrial uses shall be based on ten percent (IOW of the <br /> market value of the land at the time of re-subdivision less any applicable credit for the <br /> prior cash dedication. (1988 Code §42.13) <br /> Sermon 4. This ordinance takes effect thirty days after its publication. <br /> • <br /> Adopted this day of 1997 <br /> 11, <br /> Al l .ST: <br /> Mayor Duane McCarty <br /> (SEAL) Chuck 'CV-siting, City Administrator <br /> • <br /> 2C130624 <br /> mC1.26-4T <br /> •'„-/- _. _ __ <br />