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<br />City of Arden Hills <br /> <br />Chapter 11 Subdivisions <br /> <br />. <br /> <br />E. <br /> <br />Installment payment. The City Council, at its option, may permit the <br /> <br />developer to submit two-thirds (2/3) of the cash equivalency payment <br /> <br />over a period of time pursuant to an installment payment agreement <br /> <br />approved by the city attorney. The agreement shall require the payment <br /> <br />of interest on the unpaid principal; shall reqnire final payment within <br /> <br />eighteen (18) months; and shall require secnrity for the unpaid principal <br /> <br />portion thereof. The City may withhold development or building permits <br /> <br />for any portion of the project if the developer does not comply with the <br /> <br />terms of the installment payment agreement. <br /> <br />. <br /> <br />F. <br /> <br />Restriction of use of cash contributions. All cash contributions received <br /> <br />by the City pnrsuant to this provision shall be placed in a special fund <br /> <br />and used only for the acquisition of land for parks, playgrounds, trails, <br /> <br />wetlands or open space; for development of existing parks, playgrounds, <br /> <br />trails, wetlands or open space areas; or for debt retirement in connection <br /> <br />with land previously acquired for such purposes. <br /> <br />Section 1140 - Required Improvements <br /> <br />1140.01 Survey Monuments. Survey monnments shall be placed and installed at all block <br /> <br />corners, angle points, points of curves in streets and at intermediate points as shown on the <br /> <br />. final plat required by the city engineer. Survey monnments shall be cast iron, as approved by <br /> <br />11 - 38 <br />Public Hearing Draft <br />