HomeMy WebLinkAboutMO # 715MUNICIPAL ORDER NO.
A MUNICIPAL ORDER ACCEPTING AN ESCROW AGREEMENT IN LIEU
OF A BOND FOR WAREHOUSE INC. FOR THE SUBDIVISION OF PROPERTY
LOCATED ON OLIVET CHURCH ROAD
WHEREAS, Warehouse Inc. acquired certain real property located in the City of
Paducah, Kentucky; and
WHEREAS, Warehouse Inc. has tendered a subdivision plat affecting said
property for approval by the City; and
WHEREAS, acceptance of the proposed subdivision plat by the City is subject to
adequate assurances being received for the completion of the roadway sanitary sewer and other
matters, in accordance with the proposed subdivision plan and the City's specifications; and
WHEREAS, the parties have reached an agreement to establish an escrow account
with First National Bank of Metropolis, Illinois to provide the necessary assurances for
satisfactory completion of the above-mentioned improvements.
BE IT ORDERED BY THE CITY OF PADUCAH, KENTUCKY:
SECTION 1. The City of Paducah accepts an Escrow Agreement in lieu of a bond
for Warehouse Inc., for the completion of the roadway, sanitary sewer and other matters, in
accordance with the proposed subdivision plan and the City's specifications for the project known
as "Warehouse Inc. --Oaks II", as approved by the City's Engineering Department. A copy of this
Agreement is attached hereto and incorporated by reference as if fully set out herein.
SECTION 2. This order shall be in full force and effect from and after the date of
its adoption.
ATTEST:
Lenita Smith, City Clerk
Adopted by the Board of Commissioners, October 17, 1995
Recorded by Lenita Smith, City Clerk, October 17, 1995
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