HomeMy WebLinkAboutCity Council Resolution 1977-379• CITY OF PLYNDM .
Pursuant to due call and notice thereof, a. regular meeting of
the City Council of the City of Plymouth, Minnesota wasa on the
15th day of August , 19 77. The following members were
Present: Vavor Hilde. Councilmen Hunt ,rNei Is, Seibold and Spaeth
The following members were absent: NnnP
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Councilman Spaeth introduced the following Resolution and moved
its tion:
RESOLUTION NO. 77- 379
REDUCTION OF DEVELOPMENT BOND
GLEANLOCH ACRES
WHEREAS, Enterprise Properties, developer of Gleanloch Acres (A -File 166 and
A -File 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, #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 $9,200.00,
and
WHEREAS, the Developer has requested a further reduction to reflect the additional
completed and accepted work contained in the Development Contract, and
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the Development Bond for Gleanloch Acres (#1592251 The Travelers
Indemnity Company ) in the amount of $9,200.00 is hereby reduced to $0.00 to
reflect the completed work to date.
The motion for the adoption of the foregoing Resolution was duly seconded
by mNeils and upvote being taken thereon, the
fol owuig vote un avor f: on Mayor Hilde, Councilmen Hunt, Seibold
Whereupon the Resolution was declared duly
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