ORDINANCE 09-04
ORDINANCE 09-04
AN ORDINANCE OF THE CITY OF ANDERSON, ALASKA,
AMENDING
SECTION 13.52.020(E) OF TITLE 13
"SUBDIVISIONS" - OF THE ANDERSON CODE OF ORDINANCES.
BE IT ORDAINED AND ENACTED BY THE CITY COUNCIL OF THE CITY OF
ANDERSON, ALASKA, THAT:
SECTION 1. CLASSIFICATION. This ordinance is of permanent nature and shall
become a part of the City Code upon adoption and ratification.
SECTION 2. GENERAL PROVISIONS. The purpose of this ordinance is to amend
Ordinance 13.52.020(E) to allow for a deposit of $10,000.00 to be utilized by the City of
Anderson as alternative security for its Deed of Trust should an applicant for property in
The Northern Lights Subdivision need to obtain a first deed of trust financing for the
purpose of building a home on the property.
Chapter 13.5.020 is amended to read as follows:
Add to (E). Should the applicant require clear title to their Northern Lights
Subdivision property to obtain financing to build a home on said
property, the City of Anderson may reconvey its Deed of Trust upon the
Applicant providing a $10,000.00 deposit, to be held by the City of
Anderson in trust, and entering into an agreement with the City of Anderson
Whereby the $10,000.00 shall be held as security by the City of Anderson
For performance of the applicants obligations under the agreement.
If the applicant timely performs their obligations under the agreement the
$10,000.00 shall be returned to the applicant upon the applicant
completing their obligations under the agreement and presenting the
required documentation to the City of Anderson. If the applicant fails to
timely perform their obligations under the agreement the $10,000.00
deposit shall become the property of the City of Anderson upon the City
Clerk of the City of Anderson declaring by affidavit that the applicant is
in default under the agreement.
SECTION 3. ADOPTION.
FIRST READING: April 14, 2009
SECOND READING: April 25, 2009
PUBLIC HEARING: April 25, 2009
ADOPTION: April 25, 2009