HomeMy WebLinkAboutMO # 664MKS
MUNICIPAL ORDER NO. 4o 6,41
A MUNICIPAL ORDER ACCEPTING AN ESCROW AGREEMENT IN
LIEU OF A BOND FOR COMPUTER SERVICES, INC. FOR PROPERTY KNOWN
AS THE FRIEDMAN LANE PROJECT
WHEREAS, CSI acquired certain real property located
in the City of Paducah, Kentucky; and
WHEREAS, CSI 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 Citizens Bank & Trust Company
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 Computer Services 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 "Friedman Lane Project,
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
ATTEST:
Ci y Cler
Adopted by the Board of Commissioners September 21, 1993
Recorded by Lenita Smith, City Clerk, September 21, 1993
mo/escrow