HomeMy WebLinkAboutCity Council Resolution 1979-021CITY O� PLYMOUTH
Pursuant to due call and notice thereof, a Special Council meeting of
the City Council of the City of Plymouth, Minnesota was e d on the
10 8th day of January , 19 79, The following members were
present: Mayor Hun ounce mem ers goyt,-Reels, Seibold and Spaeth
The following mem ers were a sent: one
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Councilmember Seibold introduced the following Resolution and
move its a option:
RESOLUTION Nr�. 79-21
REDUCING DEVELOPMENT BOND
SCHMIDT LAKE WEST (A-664)
WHEREAS, in accordance with the Development Contract, dated July 26, 1976, Robert
E. Ostrum, developer of Schmidt Lake West (A-664), has petitioned the City to
install certain improvements for said development, and
WHEREAS, the City has completed all of the improvements as required, and
WHEREAS, the Developer has furnished the City a Letter of Credit guaranteeing the
payment of the special assessments for two years, and
WHEREAS, the total amount of the assessments on 17 of the 22 lots have been paid
completely,
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the bonding requirements are eliminated and the two letters of credit
($9,600.00 and $105,331.00) are released.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Neils and upon vote being taken thereon, the
1 'Following vo a in avor ereo : Mayor Hunt, Councilmembers Hoyt, Neils,
Seibold and S aeth
The oI lowing voted against or a sta ned: one
Whereupon the Resolution was declared duly passe an a opte .
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