HomeMy WebLinkAboutRESOLUTION NO. 2007-54 RESOLUTION NO. OJw
RESOLUTION APPROVING A LETTER OF CREDIT FROM FAIRFAX STATE
SAVINGS BANK FOR PUBLIC IMPROVEMENTS IN
PRAIRIE VIEW HEIGHTS, PHASE'TWO
WHEREAS, The public improvements in Prairie View Heights, Phase Two have
not been completed as required for the approval of the Final.Plat, and
WHEREAS, The City Engineer determined the value of the remaining public
improvements is $500,000.00; and
WHEREAS, Gordon 'Sevig has submitted a Letter of Credit from Fairfax State
Savings Bank in the amount of$500,000.00 as security for the completion of the public
improvements.
NOW,THEREFORE,BE IT RESOLVED, By the City Council of the City of
Fairfax, Iowa, in the amount of$500,000.00, that the letter of credit submitted by Gordon
Sevig from the Fairfax State Savings Bank is hereby approved and accepted as security
for the completion of public improvements in Prairie View Heights,Phase Two.
Passed and approved this
pP 3(5 day of �'� �' , 2007
AYES: R
NAYS: N)0,-4-
ABSENT:
,-4-ABSENT:
P
Bill Voss,Mayor
ATTEST:
1ANjJ` f ,
Vickie Kindl, City Clerk
The foregoing Resolution No. 54 having been ap roved this to by the City Council, I hereby
approve the same by affixing my signature as City Clerk on this 301P day of A67 ,200
Vtm
Vickie Kindl, it Jerk