Resolutions-2003-xxx

CITY OF TIFFIN IOWA RESOLUTION NO. 2003- A RESOLUTION AUTHORIZING THE RELEASE OF ALL LOTS IN ROLLING HILLS, PART 2, TIFFIN, IOWA, FROM CERTAIN LIENS & CLAIMS CREATED BY AGREEMENT OR ORDINANCE BETWEEN THE CITY OF TIFFIN AND THE DEVELOPER OF ROLLING HILLS, PART TWO, TIFFIN, IOWA WHEREAS, the City of Tiffin and the Developer of Rolling Hills, Part 2, have entered into an agreement approving a final plat for the subdivision upon post of a performance bond by the Developer; and WHEREAS, the City of Tiffin and the Developer have agreed that there are repairs and improvements that will be completed as denoted by a mutually accepted "punch list" prepared by the City Engineer and which is incorporated into the bond posted by the Developer; and WHEREAS, the uncompleted items of the punch list create a lien in favor of the City of Tiffin against all the lots in Rolling Hills, Part 2, Tiffin, Iowa; and WHEREAS, said Developer is prepared to sell certain lots within Rolling Hills, Part Two, and in order to complete those sales the Developer must provide an unencumbered title and therefore must have a release of the said liens; and WHEREAS, the City Attorney has drafted this resolution and approves of its passage; and WHEREAS, the sale of the said lots will benefit the City by generation of taxable funds while at the same time protecting the City's interest in completion of the required infrastructure by way of the performance bond posted; NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF TIFFIN, IOWA, that the City of Tiffin acknowledges receipt of the bond