HomeMy WebLinkAboutCity Council Resolution 1977-497. CITY OF PLYHDUni
Pursuant to due call and notice thereof, a. special meeting of
the City Council of the City of Plymouth, Nffiffiisota was a on the
12th day of September , 19 77 . The following members were
present: Mayor Hilde. Councilmen Hunt, Neils, Seibold and Spaeth
The following mowers were sent: None
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Councilman Neils introduced the following Resolution and moved
its tion:
RESOLUTION #77-497
REDUCING ASSESSMENT SECURITY FOR "GREENTREE WEST" SUBDIVISION FOR WAYZATA DEVELOPERS
(A-468)
WHEREAS, the development contract for "Greentree West" subdivision provides for bond
or Letter of Credit to guarantee payment of the first two years' special assessments;
and,
WHEREAS, Specials paid to date reduce the amount of security required;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that it should, and hereby does, approve the reduction of the Letter of
Credit guaranteeing the special assessment for the first two years on the "Greentrre
West" subdivision to the amount of $168,000.00.
The motion for the adoption o the foregoing Resolution was duly seconded
by Councilman Seibold and upon vote being taken thereon, the
following voted insvar-tâ–ºer`eof: Mayor Hilde, Councilmen Hunt, Neils,
Seibold and d Spaeth
'The amowing vat against or abstained: None
Whereupon the Resolution wAs declared duly passed and adopted.
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