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<br />CC Meeting Minutes <br />Page five <br />October 26, 1988 <br /> <br />now reads: with a performance bond or letter of <br />credit in an amount of one hundred (100%) percent <br />of the estimated project cost....., <br />amend to read: with a letter of credit in an <br />amount of one hundred fifty (150%) percent of the <br />estimated project cost..... <br />-Clerk will check with the City Attorney regarding his <br />opinion requiring all letters of credit versus bonds <br />from developers for better control by the City with <br />regard to collection of monies. <br />-page four, A. 2. <br />now reads; "", the developer shall provide to the <br />City. . . .. , <br />amend to read: the developer may at the City's <br />discretion provide to the City..," <br />-page four, A. 3. <br />now reads: "... trunk costs shall be assessed <br />amend to read: trunk costs may at the City's <br />discretion be assessed <br />It was felt that the original statement may cause the <br />City to lose some flexibility of making the developer <br />pay to run improvements to his own property. Example: <br />Property owners who abut the improvements, could be <br />assessed versus the benefiting developer. <br />-pages six and seven, 1, and 2. - "limited scope" could be <br />an argued point. To provide continuity and to <br />insure professional construction throughout the <br />entire City, all improvements should be completed <br />by the City. <br />Delete: "For projects of limited scope and scale the <br />developer may petition to design and install said <br />improvements to be approved by the City." <br />-page seven, 3. <br />now reads: ponding areas to be designed and <br />installed by the developer and the <br />developer may petition the City.. ," <br />amend to: .. ponding areas to be designed and <br />installed by the City ..." and "", the developer <br />shall petition the City., ," <br />-page seven, 4. <br />now reads: public streets to be designed and <br />constructed by the developer and the <br />developer may petition the City, .... <br />amend to: .. public streets to be designed and <br />constructed by the City and the <br />developer shall petition the City..... <br /> <br />Motion by Burgstahler, second by Neumann to request that the City <br />Engineer discuss with the City Attorney the above proposed <br />amendments, and after said discussion to come back to the City <br />