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VERNON TOWNSHIP
RESOLUTION #R08-72

AUTHORIZING RELEASE OF BONDS FOR GLEN HARBOR ESTATES PB# 9-88-44

WHEREAS, Glen Harbor Estates, owner Glenwood Lake Associates, was the applicant before the Planning Board of the Township of Vernon incidental to a site plan within the Township of Vernon, Planning Board application filed number PB# 9-88-44; and

WHEREAS, pursuant to said application it was necessary and required for said applicant to post with the Township of Vernon a cash bond in the amount of $37,626.00; and a Performance bond in the amount of $338,604.00 which has been previously reduced to $40,785.00; and

WHEREAS, the site plan has been completed in a satisfactory manner, said completion being approved by the Planning Board; and

WHEREAS, the Planning Board at its Regular Meeting of February 27, 2008 voted affirmatively to recommend the release of any outstanding Performance and cash bonds plus interest accrued to date for Glen Harbor Estates; and

NOW THEREFORE BE IT RESOLVED, by the Governing Body of the Township of Vernon that based upon the recommendation of the Planning Board, that the bonds for said Glen Harbor Estates posted by Glen Harbor Estates is hereby authorized to be released and returned to the applicant; and

BE IT FURTHER RESOLVED, that a copy of this resolution will be forwarded by the Clerk of the Township of Vernon to the Treasurer’s Office of the Township of Vernon authorizing said Treasurer’s Office to release the cash bond in the amount of $37,626.00 plus interest accrued to date and that a copy be forwarded to the Planning Board Secretary and the Planning Board.

CERTIFICATION

I hereby certify that the above resolution is a true copy of the resolution adopted by the Township Council of the Township of Vernon at their Regular Meeting held on Thursday May 8, 2008 at 7:00 p.m. in the Vernon Municipal Center.

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Dennis G. Murray
Acting Municipal Clerk