HomeMy WebLinkAboutCity Council Resolution 1976-042W W
CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth, Minnesota, was old on the 19th day
of January , 1976 . The following members were present:
owing memoers were
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Councilman Spaeth introduced the following Resolution and
move is adoption:
RESOLUTION NO. 76-42
BOND REDUCTION GLEANLOCH ADDITION
WHEREAS, Enterprise Properties, developer of Gleanloch Acres (File A-166 & 176)
have entered into a development contract with the City of Plymouth to provide for
the installation of certain street and off-site improvements per the City Ordinances
and in conformance with said Development Contract dated December 4, 1968, and
WHEREAS, said developer has provided the City of Plymouth with a Development Bond
No. 1592251 with the Travelers Indemnity Company in the amount of $155,925.00
dated June 6, 1969 and said bond was reduced to its present amount of $87,654.00, and
WHEREAS, the developer has requested a further reduction to reflect the additional
completed and accepted work contained in the Development Contract, and
WHEREAS, the City Engineer has inspected said completed work and finds it to be
in conformance with City standards,
NOW THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the Development Bond for Gleanloch Acres (#1592251 Travelers
Indemnity Company) in the amount of $87,654.00 is hereby reduced to $9,200.00 to
reflect the completed work to date.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilman Neils , and upon vote being taken thereon, the
following vote in favor thereof: Mayor Hilde, Councilmen Neils, Seibold
and Spaeth
e o ow ng voted against or abstained: one
Whereupon the Resolution was declared duly passed and a opte .
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