HomeMy WebLinkAboutCity Council Resolution 1980-843CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meetina of the City
Council of the Cit_, of Plymouth, Minnesota, was held on the 17th day of
' November 1980 . The following members were present: Mayor Hunt,
r
The for—ocilmembers Hoyt- Neils and l owing members were absent: Councilmember Davenport
Councilmember Neils introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 80-843
AUTHORIZING REDUCTION OF SITE ;MPROVEMENT PERFORMANCE GUARANTEE FROM HOKANSON
CONSTRUCTION FOR PLYMOUTH RACQUET CLUB (A-730)
WHEREAS, the site plan submitted by Hokanson Construction, Inc. for the Plymouth
RoFquet Club located at 2800 Fernbrook Lane was approved under City Council
Resolution No. 79-204; and,
WHEREAS, the developer submitted the required site performance guarantee in the
form of a letter of credit in the amount of $28,044; and,
WHEREAS, upon the request of the developer for site inspection and release or
reduction of the financial guarantee, City Staff has inspected said site and
recommends reduction of the letter of credit;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MI'INESOTA, that it should and hereby does authorize the reduction of the site
improvement performance guarantee, First Northtown National Bank Letter of Credit
in the amount of $28,044 which was submitted to guarantee site improvements
installed by Hokanson Construction, Inc. at the Plymouth Racquet Club located at
2800 Fernbrook Lane,to $1,500.
The motion for Che adoption of the foregoing Resolution was duly seconded by
Councilmember Hoyt , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Hunt, Councilmembers Hoyt, Niels and
Schneider
The following voted against or abstained: None ,
Whereupon the Resolution was declared duly passed and adopted.