HomeMy WebLinkAboutCity Council Resolution 1978-672b
CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of
the City Council of the City of Plymouth, Minnesota was held on the
1{lt_ day of OrtnhPr , 1978 . The following members were
present: Mayor Hunt, Councilmembers Hoyt Neils and Spaeth
The following members were absent: Counc_ilmember Seibold
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Councilmember Spaeth introduced the following Resolution and
moved its adoption:
RESOLUTION 78-672
REDUCING ASSESSMENT SECURITY FOR "GREENTREE BEST" 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 "Greentree
West" subdivision to the amount of $83,000.00.
The motion for the adoption of the foregoing Resolution was duly seconded by
Copncilmembery , and upon vote being taken t'ereon, the
tollowing voted 1n favor thereof: Maygr Hunt- Cnunrilmcmhnre um.+ Neils
and Spaeth
e toilowing voted against orabstained: None
Whereupon the Resolution was declared duly pa%sed and adopted.