HomeMy WebLinkAbout1998-091• RESOLUTION NO. 98-91
A RESOLUTION APPROVING THE DEVELOPMENT
AGREEMENT FOR CONSTRUCTION OF TRUNK SEWER
AND WATER IN PHASE I OF THE ORDERLY ANNEXATION AREA
WHEREAS, a Development Agreement has been prepared by the City Attorney with the
assistance of the City Coordinator, City Engineer and the City Treasurer relative to the
construction of trunk sewer and water facilities in the Phase I Area of the Orderly Annexation
Area; and,
WHEREAS, the Development Agreement has been reviewed and approved by the
Developers and the construction of the trunk utilities to serve Phase I is in the interest of the City
in view of the benefits to the City by reason of the City achieving the construction of these trunk
utilities without incurring significant municipal debt; and,
WHEREAS, the risk to the City of extending trunk utilities into an undeveloped area is
greatly reduced by the risk being taken by the Developers with regard to the extension of the
utilities and, the extension of the utilities will allow for the development of the Liberty and
Legends developments all of which will benefit the City by increasing the tax base of the City
and providing the amenities of park and trail access that are part of the dedication requirements
• for both developments.
NOW, THEREFORE, BE IT RESOLVED, that the Development Agreement for Trunk
Utilities be and the same hereby is approved and the Mayor and City Clerk are authorized to sign
the Agreement for the City, and their action in pre-signing the Agreement is Ratified.
Enacted by the City Council of the City of Stillwater this 7th day of April, 1998.
CI T ATER
`~"in~ Mayor
ATTEST: ~
-~ ~~1
Clerk
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