HomeMy Public PortalAbout197CITY OF MEDINA
ORDINANCE NO. 197
AN ORDINANCE AMENDING §903 (2) Performance Bond, of
the Subdivision Regulations of the City of Medina
THE CITY COUNCIL OF THE CITY OF MEDINA ORDAINS AS FOLLOWS:
SECTION I:
Section 903 (2) of the Subdivision Regulations of the City of Medina are
amended by deleting the etT4ehen material and adding the underlined material.
903 (2) Performance Bond. In lieu of making an escrow
deposit above described, the subdivider may furnish the
City with a publ€e eenttaet e€ performance bond €a the
€etm pteaet€bed by etfttute, with corporate surety in the
penal sum equal to one hundred fifty (150%) per cent of
the total cost as estimated including cost of inspection
of all improvements to be furnished and installed by the
subdivider pursuant to the contract and which have not
been completed prior to the approval of the final plat.
The bond shall be approved by the City Attorney and filed
with the City Clerk.
SECTION II.
This Ordinance becomes effective upon its adoption and publication. Adopted by the
City Council of the City of Medina this 16 day of December , 1980.
ATTEST:
CLERK
Published in the Crow River News this 31 day of December
, 1980.
MAYOR