Creating an Industrial Development Fund

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tributed from new Maple Road. It will be constructed from State Road 23 northerly to the intersection of the new Maple Road and Calvert Street. A twenty -four (24) inch storm sewer will be con- structed under Calvert Street along with the necessary inlets to pick up any water falling on or intercepted by Calvert Street. This storm sewer will be constructed to drain westerly to the point of the Calvert Street intersection with new Maple Road.. A forty -eight (48) inch storm sewer will be constructed along the future Calvert Street right -of -way to and under the New Jersey, Indiana and Illinois railroad to a storm retention lagoon. The construction of an outlet structure associated with the retention lagoon will maintain a maximum rate of discharge equal to that which could be expected before the development was initiated. D. Upon the installation of all needed utilities, the City will reconstruct Calvert Street from Olive to the new Maple Road, a total length of approximately twenty -seven hundred (2,700) lineal feet. Calvert Street will be reconstructed to the standards of the City for collector streets, i.e., forty (40) feet back -to -back of curb with an integral curb and will be made of ten (10) inch plain concrete pavement. Demucking as needed to permit the construction will be accomplished. The City will apply for funds from the State of Indiana for the purpose of the reconstruction described herein. Should State funds not be made available to the City for this purpose or should the State make funds available to pay only ,a portion of the cost of reconstruction, the cost of reconstruction or, in the case of receipt of partial funding from the State, the difference between the amount received in State funds and the cost of reconstruction shall be paid by the City. The Common Council of the City shall pass a resolution on October 9, 1981 authorizing the City to apply for State funds. E. Traffic signals will be constructed at the intersection -4-