HomeMy WebLinkAboutResolution #3271~+~
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RESOLIITION N0.
A RF,SULIITION APPROVING A LETTER
28, 1995 BETWEFfiT THE CITY OF
CONSTRIICTION (STONEGATE ESTATES)
3271
OF IINDERSTANDING DATED FEBRIIARY
CANTON AND PREMIER DEVELOPMENT
WHEREAS, the City Council of the City of Canton has
determined that it is necessary and in the best interest of the
City of Canton to enter into a letter of understanding hereto
attached and herein incorporated as Exhibit "A".
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF CANTON, Fulton County, Illinois as follows:
1. That the attached letter of understanding dated February
28, 1995, hereto attached as Exhibit "A" between the City of
Canton and Premier Development Construction (Stonegate Estates) is
hereby approved.
2. That the City Attorney, James J. Elson, Sr., is hereby
authorized and directed to execute and deliver said letter of
understanding on behalf of the City of Canton, Illinois.
3. That this Resolution shall be in full force and effect
immediately upon its passage by the City Council of the City of
Canton, Fulton County, Illinois.
PASSED by the City Council of the City of Canton, Fulton
County, Illinois at a regular meeting this 5th day of April,
1995, upon a roll call vote as follows:
AYES: Aldermen Coay, Molleck, Sarff, PZeade, Bohler, May, Chapman.
NAYS: None.
ABSENT: Alderman Phillips.
AP ED:
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onald E. Edwards, Mayor
ATTEST:
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a cy Whi s, City Clerk.
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~tla~tKe~y at ,~uu~
305 ZG'eat .Cocuat Street eaata~c, 9,c' 61520
(309 64?-9126 ~ax (309> 64?-8~4?
February 28, 1995
James J. Elson, Sr.
City of Canton
210 East Chestnut Street
Canton, IL 61520
RE:
Dear Jim:
Premier Development Construction
Stonegate Estates
This is the letter of understanding referred to at the City
Counsel meeting on February 21, 1995. As part of the agreement for
the approval of the plat, Mr. Tompkins affirmatively states that
only lots 1, 2 and 3 of the subdivision will be sold prior to the
extension of the sewer for lots 5 and 6 which are a part of Phase
II of the Stonegate development. Mr. Tompkins and his associates
in Premier Development and Construction, Inc. shall deposit with
the City's approval a letter of credit at a financial institution
a sum of $15,719.00 which includes the estimated cost and
contingency reserved for the improvements of the roadway, sanitary
sewer, and water main extension for lots 1, 2, 3, and 4. However,
it is understood that the portion of the letter of credit dealing
with lot 4 will not be required to be expended until Phase II of
the project is underway which depends upon the approval of the
Illinois EPA of the City of Canton's sewer improvement on Fourth
Avenue.
If this meets with your understanding, please sign the bottom
of this letter on behalf of the City of Canton and return a copy of
it to me for my records. I suggest that the original of this
letter be kept in the City records. I have contacted Mr. Tompkins
to inquire the status of the bond or letter of credit that is
required to be submitted to you and the City for the Mayor to sign
the necessary documents.
Sincerely yours,
Walter D. Barra
WDB/ljs
James J. Elson, Sr. 6.ODaily2:RDT2
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To: Mayor Edwards, City Council, City ngineer
From: City Attorney, James J. Elson, Sr. ~-
Re: Stonegate Estates
Date: March 10, 1995
Attorney Walter D. Barra on behalf of Premier Development
Construction has submitted a memorandum of understanding, per the
discussion at the City Council meeting of February 21, 1995• He
requests my signature signifying concurrence on the understanding
reached that evening. A copy of the letter is attached. Please
review it and if this is acceptable, authorization to sign on
behalf of the City should be granted at the next council meeting.