HomeMy WebLinkAboutRESOLUTION NO. 2005-51 Resolution Approving Letter of Credit from Guaranty Bank and Frust
Company for Public Improvements in Prairie Creek Estates First and
Second Additions
WHEREAS, Synergy Development Group, L.L.C. has requested approval of the
final plats for Prairie Creek Estates First and Second Additions prior to the
completion of the public improvements in said subdivisions and
WHEREAS, Synergy Development Group, L.L.C. has submitted a Letter of Credit
from Guaranty Bank and Trust Company in the amount of$600,000.00 to secure
the cost of said improvements and
WHEREAS, the City Engineer has recommended approval of the $600,000.00
for said improvements,
NOW THEREFORE,
BE IT RESOLVED, BY THE CITY COUNCIL OF THE CITY OF FAIRFAX, IOWA,
that the Letter of Credit from Guaranty Bank and Trust Company in the amount of
$600,000.00 submitted by the Synergy Development Group, L.L.C. is hereby
approved and accepted as security for the completion of Public Improvements in
Prairie Creek Estates First and Second Additions to Fairfax, Iowa.
Passed and approved this day of I)em 2005
AYES: ecv,- Fri"eJeld �r ;5
NAYS:
1)STAIIU
n_rT: C. S
The foregoing Resolution No. rko ) having been approved
this date by the City Council, I hereb approve the same by affixing my signature
as Mayor on this day _ , 2005.
Bill Voss, Mayor
ATTEST:
nuf
Connie Frame, City Clerk
WIF- -
HALL & HALL ENGINEERS, INC.
ell
Leaders inT,,aa
,� c,?I7eve1ojnnent.4lrace 195
November 8, 2005
Honorable Mayor and City Council
City of Fairfax, Iowa
P.O. Box 337
525 Vanderbilt Street
Fairfax, IA 52228-0337
Re: Letter of Credit, Prairie Creek Estates
First and SecondAdditions
Honorable Mayor and City Council,
The developers of Prairie Creek Estates have submitted a Letter of Credit
from Guaranty Bank and Trust Company in the amount of$600,000.00 to assure
the installation of public improvements in Prairie Creek Estates First and Second
Additions. They have also provided a cost estimate for the improvements along
with the proposal from the contractor doing the work. '" 'e have reviewed the cost
estimate and the amount of the work completed to date and recommend
approval of the $600,000.00 amount as adequate coverage as required by
Chapter 166.07.2G. of the Code.
Respectfully Submitted`
Richard C. Ransom, P.E.
City Engineer
CIVIL ENGINEERING - LAND SURVEYING LANG DEVELOPMENT PLANNING - LANDSCAKARCHITECTURIE
1860 13oyson Road - I-Iiawat a,lay\ 5?233 � Ph:319.362.9548 ^ Fx;3#9.362.7595 - www.halleng.con
HALL & HALL ENGINEERS, INC.
Leado'S in Leir&Developmoit Since 1953
November 8, 2005
Honorable Mayor and City Council
City of Fairfax, Iowa
P.O. Box 337
525 Vanderbilt Street
Fairfax, IA 52228-0337
Re: Final Plat, Prairie Creek Estates
First Addition
Honorable Mayor and City Council,
We have reviewed the above referenced final plat and found it to be in
accord with the approved 1preliminary plat and the Code of the City of Fairfax.
The developer has submitted a tetter of Credit to guarantee the
construction of the plan of 'improvements. He has also provided financial
assurance for the installation of street lights.
Upon the approval of the Letter of Credit we recommend approval of the
final plat.
Respectfully Submitted,
Richard C. Ransom, P.E.
City Engineer
CIVIL ENGINEERING LAND SURVEYING a LAND DEVELOPMENT PLAI',JNlkIG LANDSCAPE ARCHITECTURE
1460 Boyson Road � Hiawatha,IIA 52233 Ph:3I9.362.95�;B = F3c:3119,3617S95 � www.halleng.com
1
MALL & HALL ENGINEERS, ®
j
Leaders iu bif2d Devedopvmw,Spree 7953 r
November 8, 2005
Honorable Mayor and City Council
City of Fairfax, Iowa
P.O. Box 337
525 Vanderbilt Street
Fairfax, IA 52228-0337
Re: Final Plat, Prairie Creek Estates
Second Addition
Honorable Mayor and City Council,
We have reviewed) the above referenced final plat and found it to be in
accord with the approved preliminary plat and the Code of the City of Fairfax.
The developer has submitted a Letter of Credit"t'o guarantee the
construction of the plan of improvements. He has also (provided financial
assurance for the installation of street lights.
Upon the approval) of the Letter of Credit we recommend approval of the
final plat.
Respectfully Submitted,
Richard C. Ransom, P.E.
City Engineer
CIVIL ENGINEERING ^ LAND SLIRVEY11f`,IG n LAND DEVELOPMI=NT PLAANIN'VNG ^ LANDSCAPEARCHITECTURE
1860 Boyson Road Hlia aLha,11A 52233 - Ph:3 f 9.362.9548 F)c:3'f 9„362,7595 � Acv whalleng.con)