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RESOLUTION NO. 4799
RESOLUTION CREATING A CROIXWOOD NO. 1 AND NO. 3 ESCROW FUND.
BE IT RESOLVED BY THE CITY COUNCIL OF STILLWATER, MINNESOTA that there is
hereby created within the City's system of accounts a Croixwood No. 1 and
No. 3 Escrow Fund.
Said fund shall be used as the depository for the 10% developer's deposit
fee of $12,550.15 and for the 25% surfee levied on each individual assess-
ment (unless all assessments are paid in full) and the fund balance is to
be applied against all assessments due on lots in the Croixwood First and
Third Additions, all in accordance with the agreement between the City and
the developer dated October 6, 1972.
Adopted by the City Council this 24th day of October, 1972.
published: November 2, 1972
Attest