HomeMy Public PortalAboutRES-CC-2008-22Resolution #22-2008
A RESOLUTION ACCEPTING THE PUBLIC IMPROVEMENTS CONSTRUCTED IN
ASSOCIATION WITH THE SUBDIVISION KNOWN AS ALLEN SUBDIVISION, AND
AUTHORIZING THE RELEASE OF THE PERFORMANCE GUARANTY ASSOCIATED
WITH SAID IMPROVEMENTS.
WHEREAS, the City of Moab (the "City") and Allen Subdivision, LLC ("Owner") entered into a
Subdivision Improvements Agreement dated May 15, 2006 (the "Agreement") covering the public
improvements associated with the above named subdivision; and
WHEREAS, Owner posted collateral in the form of cash held in escrow by American National Bank
for the benefit of the City to guarantee the improvements required by the Agreement; and
WHEREAS, the City has determined that Owner has completed the improvements in accordance with
the terms of the Agreement; and
WHEREAS, pursuant to the terms of the Agreement, Owner warrants that all improvements shall be
free of defects in materials and workmanship for a period of one (1) year from the date of this
acceptance; and
WHEREAS, pursuant to the terms of the Agreement, Owner is entitled to a full release of the
performance guaranty at this time.
NOW THEREFORE, we, the Governing Body of the City of Moab do hereby resolve to accept the
public improvements covered by the Agreement referenced herein, specifically street improvements,
water system improvements, sewer system improvements, and storm drainage improvements located
within the subdivision and do hereby authorize the full release of Owner's collateral.
Passed and adopted by action of the Governing Body of the City of Moab in open session this
I 1 to day of March, 2008.
SIG
414--
David L. Sakrison, Mayor
Rachel Ellison, Recorder
Resolution #22-2008 Page 1 of 1