HomeMy WebLinkAboutCity Council Resolution 1977-476• CITY OF PLY6DUlli .
Pursuant to due call and notice thereof, a sDecial meeting of
the City Council of the City of Plymouth, Minnesota was field on the
29th day of Au ust , 19 77. The following members were
present: CouncTimen Hunt, Neils and Spaeth
The f01lo4ina rs were sent: Mavnr Hilda and rminrilman 4Zoihn1ri
RRR
RRR RRR
introduced the following Resolution and moved
its ion:
RESOLUTION NO. 77-476
REDUCTION OF DEVELOPMENT BOND
CIMARRON PONOS
WHEREAS, Centurion Company, developer of Cimarron Ponds (A-208) have entered
into a development contract with the City of Plymouth to provide for the
installation of certain public and private utilities, street and off-site
improvements per the City Ordinances and in conformance with said Development
Contract dated April 21, 1977, and
WHEREAS, said Developer has provided the City of Plymouth with an irrevocable
letter of credit number 77-109 with the Northwestern National Bank of Hopkins,
Minnesota in the amount of $150,809.00, dated April 18, 1977, and
WHEREAS, the Developer has requested a reduction to reflect the completed and
accepted work contained in the Development Contract, and
NOW, THERE'ORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA that the Development Bond for Cimarron Ponds in the
amount of $150,809.00 is hereby reduced to $47,277.00 to reflect the completed
work to date.
The motion for the adoption of the foregoing Resolution was duly seconded
by Councilman Spaeth , and upon vote being taken thereon, the
folia g voted In favor thereof* _Councilmen Hunt. Neils and Spaeth
The owing voted against orabstained: one
Whereupon the Resolution was declared duly pass adopted.
RRA RRR RRR