HomeMy WebLinkAboutCity Council Ordinance 1974-21CITY OF PLYMOUTH
ORDINANCE NO. 74-21
AN ORDINANCE AMENDI14G SECTION 8.05, CHAPTER VII OF THE CITY
CODE RELATING TO THE PARTICIPATION OF THE CITY IN THE COST
OF INSTALLATION OF PUBLIC IMPROVEMENTS IN DEVELOPING
PLATS AND SUBDIVISIONS
THE CITY COUNCIL OF THE CITY OF PLYMOUTH DOES HEREBY ORDAIN AS
FOLLOWS:
Section 1. Amendment of City Code, Chapter VII of the City Code
is hereby amended by the following addition:
"8.05. PARTICIPATION BY CITY.
(a) P.esidr_ntial D-�vclo m.cThe o^rner and subdivider, engaged
in the development of -ands and properties which are zoned as R-0, R-1,
R-2, R-3, or P.-4, in the installation of sanitary sewers, water systems
and storm sewers required by this section, may request City participation
in the payment of the costs of such installations and in such event such
owner and subdivider shall comply with the following requirements:
(1) Such owner- and subdivider shall make a cash deposit with
the City Treasurer in an amount equal to twenty-five percent (25%)
of the estimated cost of installing such improvements as such costs
are determined by the City Engineer. Such deposit shall be applied
to the costs of such installations.
(2) All such services shall be planned and designed by the
City Engineer and shall be installed by the City. The charges
of the City Engineer in connection with such projects shall be
Included in the estimated costs referred to in (1) above.
(3) Upon completion of such installations, the City shall
cause to be assessed against the lots in the subdivision the re-
maining seventy-five percent (75%) of the costs of such installa-
tions. Such assessments shall be over a period of five (5) years
together with interest thereon.
(4) At the time of the application for a building permit with
respect to any of the lots in the subdivision, the applicant shall
pay to the City Treasurer a sum equivalent to one hundred percent
(100%) of the principal balance of such assessment remaining
unpaid on said lot together with accrued interest.
5 As an alternative, and in lieu of proceeding in accordance
with 1 , (2), (3), and (4) above, the owner and subdivider may
elect to have the City provider one hundred percent (100%) of the cost
of such installations which costs shall be assessed against the lots
in the subdivision over a period of five (5) years together with
interest thereon. In such event, the owner and subdivider shall
deposit with the City a bond with surety acceptable to the City or
irrevocable letter of credit issued by a banking institution guaran-
teeing to the City as Obligee of said bond or letter of credit that
i, the owner or subdivider will pay principal and interest on said
assessments for two (2) years. Said bond or letter of credit shall
be effective as against the owner and subdivider whether or not
all or a portion of the land within the subdivision is sold or
conveyed during such two (2) year period.
Section 2. Effective Date. This ordinance shall take effect from
and after its passage and publication.
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