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CITY OF ORONO <br />RESOLUTION OF THE CITY COUNCIL <br />NO. <br />8. A Development Contract including provision of financial security including a Letter of <br />Credit and escrow to ensure that all site improvements are installed and maintained to the <br />City's specifications and satisfaction, and to establish conditions for future development <br />of the site shall be executed. <br />9. The aforementioned Letter of Credit shall be submitted. <br />10. Payment of Development Fees: <br />a. Park Dedication Fee: $11,100. <br />b. Stormwater and Drainage Trunk Fee: $9,075.00. <br />c. Municipal Water Connection Charge: $4,240.00. <br />d. Final Plat Application Fee: $500.00. <br />11. The City Clerk shall release the plat documents for filing only upon certification by the City <br />Attorney, Community Development Director and City Engineer that all requirements of the <br />platting regulations have been satisfied. <br />12. The aforesaid plat shall be filed by the City of Orono with Hennepin County on or before <br />November 29, 2018 together with a certified original copy of this resolution and executed <br />copies of the easements and covenants pertinent thereto. <br />ADOPTED by the Orono City Council on this 25th day of June, 2018. <br />ATTEST: <br />CITY OF ORONO: <br />Anna Carlson, City Clerk Dennis Walsh, Mayor <br />