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HomeMy WebLinkAboutOrdinance - 163 - Amending Ordinance No. 93 - 10/26/1971 ^ky}z i� VILLAGE OF EDEN PRAIRIE HENNEPIN COUNTY, MINNESOTA ORDINANCE NO. 163 AN ORDINANCE AMENDING ORDINANCE NO. 93 OF THE VILLAGE BY PROVIDING FOR LETTER OF CREDIT TO SECURE SUBDIVISION FINANCING AGREEMENT AND FOR RECORDING OF AGREEMENT. THE VILLAGE COUNCIL OF THE VILLAGE OF EDEN PRAIRIE, MINNESOTA, ORDAINS: rt Section 1 . Subd. 7 of Section 12 of Ordinance No. 93 is hereby amended A to read as follows: m Subd. 7. Responsibility for Improvements; When preliminary approval has been given to plats, the person who filed such plat shall enter into a a subdivision development agreement with the Village. Such agreement shall cause all street, storm sewer, water and sewer improvements required by the resolution granting such approval to be completed at the developer 's expense and under the supervision si on of the Village 1 Manager,a e P 9 In 1 i eu of the developer making such improvements, such agreement may obligate such developer to pay to the Village the cost of such services and construction through payment of special assessments which shal 1 be payable in three annual installments, provided, however, that the Village shall not be obligated to enter into such agreement if the developer does not file a bond or deposit cash in escrow as hereinafter described or does not deliver a Letter of C redi t as herei naf ter descri bed or i f the Vi I 1 age Counci 1 determi nes that the Village must borrow money to pay its costs of construction under such agreement and such borrowing wi 1 1 jeopardize the Village's credit rating. Such agreement shall also provide that if the developer transfers any lot or parcel in the platted area while special assessment thereon remain unpaid, they will be paid or prepaid in full to the Village Treasurer or the County Treasurer. Ordinance No. 163 Page Two a The agreement to pay special assessments at the time of transfer shal 1 also be set forth in a separate agreement and recorded in the appropriate office at developer's expense to give notice to all future purchasers and owers. The bond herein required shall be given by the developer with a A corporation approved by the Vi l l age Counci 1 as surety thereon, in the amount of 120% of all costs of making the improvements specified in the subdivision financing agreement not paid in cash by the developer before or at the time of entering into such agreement and shall be given for the securing to the Village of the payment of the special assessments. If the developer does not file such bond, he may in 1 i eu thereof deposit in escrow in a national or state bank cash in the full amount of the unpaid improvement costs together with instructions to the bank to pay the money to the Village to the extent of any default by the developer in the payment of the special assessments. The Letter of Credit herein authorized shall be delivered by the developer only if the Village Council agrees to accept it for the specific plat in 1 i eu of such bond or cash escrow. Such Letter of Credit, if accepted, shall be from a national or state bank, be for 12D% of the full amount of the unpaid improve- ment costs and contain provisions whereby funds will be paid to the Village upon written dE.rand from time to time of the Village to the extent of any default by the developer in the payment of the special assessments. Section 2. This Ordinance shall be in full force and effect immediately upon its passage and publication, and when effective shall be filed with the Office of the Register of Deeds, Hennepin County, Minnesota. I Ordinance No. 163 Page Three x 5 t First read at a regular meeting of the Council of the Village of Eden x Prairie, this 26th day of October, 1971 , and finally read and adopted at a i regular meeting of said Village on the 14th of December, 1971 . s � 3 David W. Osterholt, Mayor ATTEST: ..rt/ SEAL Edna M. Holigren, Cler c* s 1 r._ i' A SUN EWSPAPERN.S AFFIDAVIT OF PUBLICATION Minnetonka - Eden Prairie Sun 6601 W. 78th St. Bloomington, Minnesota ¢ . r* a State of Minnesota ss. County of Hennepin J. R. RITCHAY, being duly sworn, on oath says he is and during all times here stated has been the vice president and printer of the newspaper known as The Minnetonka-Eden Prairie Sun and has full knowledge of the facts herein stated as follows: (1) Said newspaper is printed in 'PfwX: the English language in newspaper format and in column and sheet form equivalent in printed Nlg ; space to at least 900 square inches. (2) Said newspaper is a weekly and is distributed at least once h week. f3o 17� of its news d to news of local interest e Said t the community which ittepul as srport to serve and des not swholly eduplicate any other publication and is not made up entirely of patents. plate matter and advertisements. (4) Said iAd newspaper is circulated In and near the municipality which it purports to serve, has at least u } i 500 copies regularly delivered to paying subscribers, has an average of at least 75% of its total circulation currently paid or no more than three months in arrears and has entry as second- . class matter in its local post-office. (5) Said newspaper purports to serve the City of Minne- tonka and Village of Eden Prairie in Hennepin County and it has its known office of issue in the City of Bloomington in Hennepin County, established and open during its regular business hours for the gathering of news, sale of advertisements and sale of subscriptions and maintained by the managing officer or persons in its employ and subject to his direction and control during all such regular business hours and devoted exclusively during such regular .., business hours to the business of the newspaper and business related thereto. (6) Said newspaper ' files a copy of each issue Immediately with the State Historical Society. (7) Said newspaper has ^ complied with all foregoing conditions for at least two years preceding the day or dates of tbttfdltta(h1q publication mentioned below. (8) Said newspaper has filed with the Secretary of State of ^' Minnesota prior to January 1, 1966 and each January 1 thereafter an affidavit in the form prescribed by the Secretary of State and signed by the publisher of said newspaper and sworn , ' to before a notary public stating that the newspaper is a legal newspaper. be ttridw�lop�re� War, t,4ltfMrior coa4 a�so� iM>wrP�� .#ao•.,. ceptad #1a116e[swww,# #r Wafti � brl0ols�+altl�tt �dfir ' Ordinance No. 163 He further states on oath that the printed .AoatR , -, : r; wu► �• hereto attached as a part hereof was cut from the columns of said newspaper, and was printed ti�etoWq(igf M;. ttlrttpki+�a>u�nNMtl.r7 fslkfaeae+Aa4' ��1 NVI and published therein in the English language, once each week, for_OnC Quccesslve weeks: R b ads SIYpP�Piy',YM rot, that that it was first so published on huts the 30th day of Dec 19-Zi— ) 1!'1x. r 5•,,a n I, i' r' � f lSil►tt>f>Q'91/'06 and was thereafter printed and published on every to and including the day of 19-- and that the following is a printed copy s of the Iower case alphabet from A to Z. both inclusive, and is hereby acknowledged as being the size and kind of type used in the composition and publication of said notice. to-wit: abcdelghi jk)mnopgrstuvwxyz abcde(ghi jklmnnpgrstuvw"i: Subscribed and sworn to before me this 30th day of Dec 19 ?�• (Notarial Seal) Alice J. Nelson, Notary Publi , Hennepin County, Minn. My Commission Expires December 26, 1973 �.