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AN ORDINANCE TO AMEND SECTION 21-44 AND TO ENACT SECTIONS 21-45 AND SECTIONS 21-46 OF THE CODE OF ORDINANCES OF THE CITY OF JONESBORO PROVIDING FOR EVIDENCE OF COMPLETION OF IMPROVEMENTS; FUNDED ESCROW AGREEMENT, AND FOR OTHER PURPOSES (NOTE: THIS ORDINANCE WAS AMENDED BY ORD-05:177 ON NOVEMBER 15, 2005)
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BE IT ORDAINED by the City Council of the City of Jonesboro, Arkansas:
Section 1: Section 21-44 of the Code of Ordinances of the City of Jonesboro is hereby amended by deleting and eliminating the words "before the sale of any lot" in paragraph one and by eliminating and deleting from Section 21-44 (c) "however, where lots are being offered for sale, or valued by FHA or other agencies at $21.70, or less, per front foot, the sub-divider shall not be required to construct or provide curbs." Said sections shall read as follows:
"Section 21-44: The sub-divider shall complete the following improvements to the entire block in which said lot in located, and to adjacent areas, sufficient to accomplish the planned drainage and access."
"Section 21-44 (c): The sub-divider shall provide permanent six-inch concrete curbs with integral concrete gutters, or standard rolled curbs and gutters, on all streets to the following specifications."
Section 2: Section 21-45 is hereby enacted and shall read as follows:
"The sub-divider or developer must, before the sale of any lot or lots, either complete the improvements shown in 21-44, or furnished the City Planning Commission a letter from the City Water & Light Plant the satisfactory arrangements have been made to install necessary utilities and a funded escrow agreement in the amount of the contract cost of street improvements required by 21-44 not completed at the date of sale of the lot or lots, from the closest improved street to and including all front feet of said lot or lots sold."
Section 3: Section 21-46 is hereby enacted and shall read as follows:
"For the purpose of 21-45 'Funded Escrow Agreement' shall mean: Evidence satisfactory to the Planning Commission of financial responsibility to complete improvements required, such as a letter of credit from an accredited lending institution."
Section 4: It is found and declared by the City Council that due to increased number of sub-divisions being opened within the City of Jonesboro, that it becomes necessary to require additional improvement regulations in order to properly enforce the procedures for plan and plat approval and in order to give the City Planning Commission more control over the actual improvements to be completed by the sub-divider and that, therefore, an emergency is declared to exist and this ordinance being necessary for the preservation of the public peace, health and safety, it shall take effect from and after its passage and approval.
PASSED and ADOPTED this 5th day of December, 1966.