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CITY OF NORTH OLMSTED <br />RE$Of:UTf.ON NO. 69- <br />BY__!Y?1. <br />A: RESOLUTION AUTHORIZING THE CITY <br />ENGINEER TO ACCEPT A BOND FOR $17, 000. 00 <br />IN LIEU OF A BOND FOR $32, 000. 00. <br />WHEREAS, The City Engineer has advised Council that the <br />developer, C.O. Fisher, of North Park Estates Subdivision No. 1, has <br />installbd fifty per cent or more of the sidewalks needed in the aforesaid = <br />subdivision, and <br />WHEREAS, The City Engineer has further advised Council that a <br />bond in the amount of $17, 000. 00 will protect the city, and further will <br />adequateiy compensate the city for the installation of sidewalks yet to <br />be installed in the North Park Estates Subdivision No. 1, in the event it is <br />necessary for the City to install the sidewalks as originally set forth on the <br />plot plan, and <br />WHEREAS, Council now wishes to permit a reduction in the face <br />amount of the aforesaid bond. <br />NOW, THEREFORE , BE IT RESOLVED by : the Council of the <br />City of North Olmsted, State of Ohio: <br />Section 1: That the City Engineer is now authorized to instruct <br />the developer of North Park Estates S,ubdivision No. 1, to furnish a bond <br />in the amount of $17, 000. 00 . <br />Section 2: WHEREFORE, this Resolution shall take effect and <br />be in force at the earliest period allowed by Artic le IV, Section 12 of the <br />Charter of the City of North Olmsted. <br />PAS SE D: ' <br />ATTEST: <br />c ~ <br />Florence Holm, Clerk of Council Francis J. O'N 1, President of Council <br />APPROVED: <br />• <br />d"Z-9 <br />Ralph . Christman, Mayor <br />412 /6 y <br />? <br />1-, <br />s- <br />OS'fFd / 3 /f„?'