HomeMy WebLinkAboutCity Council Resolution 1980-167CITY OF PLYMOUTH
Pursuant to due call and notice thereof, ar r meeting of
the City Council of the City of Plymouth,innM" esota was held on the
3rd day of March , 19B_Q_. The following members were
present: Mayor Hunt Counc'lmembers Davenport.
The following members were absent: one
Councilmember Davenport introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 80-167
AUTHORIZING REDUCTION OF LETTER OF CREDIT FOR SITE IMPROVEMENTS AT THE HAPPY
CHEF RESTAURANT (A-830)
WHEREAS, the site plan for the Happy Chef Restaurant located at the southwest
corner of Fernbrook Lane and Highway 55 was approved under City Council
Resolution No. 78-461; and,
WHEREAS, the developer submitted the required site performance guarantee in the
form of a letter of credit in the amount of $32,000.00; and,
WHEREAS, upon the request of the developer for site inspection and reduction of
the letter of credit, City Staff has inspected said site and recommends reduc-
tion of the letter of credit;
NOW, THEREFORE, BE I'► HEREBY RESOLVED by the City Council of the City of Ply-
mouth, Minnesota, that it should and hereby does authorize the reduction of
the Security State Bank of Mankato letter of credit in the amount of $32,000.00,
dated February 8, 1980, submitted to guarantee site improvements for the Happy
Chef Restaurant located in the southwest corner of the intersection of Fernbrook
Lane and Highway 55, to $5,000.00.
The motion for the adoption of the foregoing Resolution was duly seconded by
Cou�c' Ceils . and upon vote being taken thereon, the
'following vote in favor t ereof: Mayor Hunt, Councilmemberz Neils HnXt,
Davenport and Schneider
The following voted against or abstained:
Whereupon the Resolution was declared duly passed and adopted.