Resolution #16-51: Resolution Approving the Release of Escrow for Investors

Date of Adoption: December 22, 2016

WHEREAS, Vernon Valley Investors has posted escrow funds for the professional services related to the connection to the sewer in total of $14,000.00 beginning on June 4, 2014; and

WHEREAS, the connection to the sewer project is complete and all invoices to professionals have been paid; and

WHEREAS, Vernon Valley Investors has requested release of escrow funds in the amount of $2,527.72; and

WHEREAS, the authority engineer, L. Ceren Aralp, has no objection to the authority releasing the escrow funds.

NOW THEREFORE, BE IT RESOLVED by the board of commissioners of the Vernon Township Municipal Utilities Authority that the CFO shall refund escrow funds.