HomeMy WebLinkAboutRes 1969-391 Authorizing Partial Release of Monies Held in Subdivision & Platters Escrow Agreement dated 11/6/681
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RESOLUTION NO. 391-69
A RESOLUTION OF THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA, AUTHORIZING PARTIAL RELEASE OF MONEYS HELD IN SUBDIVISION
AND PLATTERS ESCROW AGREEMENT DATED NOVEMBER 6, 1968.
BE IT RESOLVED BY THE VILLAGE COUNCIL OF NORTH PALM BEACH,
FLORIDA:
Section 1. Pursuant to a letter from J. A. Schweneke to
the Village Manager of the Village of North Palm Beach, dated April 29,
1969, a copy of which is attached hereto, and pursuant to a report
of the Village Engineer concerning Golfview Addition to the Village
of North Palm Beach, a copy of which is attached hereto, the Village
Manager is hereby authorized and directed to release the sum of
$73,000.00 from the $77,000.00 bond placed with the First National
Bank of Riviera Beach, pursuant to "Subdivision and Platters Completion
Escrow Agreement", executed November 6, 1968. The remaining $4,000.00
shall be held pursuant to that agreement until street lighting require-
ments have been completed; provided, however, that street lighting
shall be completed concurrent with the application for the first
building permit for Golfview Addition Subdivision or within one year
from date, whichever first occurs.
PASSEL) AND ADOPTED THIS 8TH DAY OF MAY, 1969.
ATTEST:
/s/ Dolores R. Walker
Village Clerk
/s/ Thomas F. Lewis
MAYOR