HomeMy WebLinkAboutCity Council Resolution 1981-152CITY 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 2nd day of
1
March , 19 8The following members were present:
CouncilmorUrs Hoyt. Neils, Schneider and Thrainan
Trw following ers were absent: None
Councilmember Schneider introduced the following Resolution and moved
Its adoption:
RESOLUTION NO. 81-152
AUTHORIZING REDUCTION OF SITE IMPROVEMENT PERFORMANCE GUARANTEE FOR METROPOLITAN
STATE BANK OF PLYMOUTH (A-815)
WHEREAS, the site plan submitted for the Metropolitan State Bank of Plymouth,
located southeast of Highway 55 and Annapolis Lane, was approved under City
Council Resolution No. 78-460; and,
WHEREAS, the developer submitted the required site improvement performance
guarantee in the form of an escrow account in the amount of $25,000; and,
WHEREAS, upon the request of the developer for site inspection and reduction
of the financial guarantee, City Staff has inspected said site and recommends
reduction of the financial guarantee;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that it should and hereby does authorize the reduction of the site
improvement performance guarantee, an escrow account in the amount of $25,000
established by First National Bank of Minneapolis, which was submitted to
guarantee site improvements installed at the Metropolitan State Bank of
Plymouth located southeast of Highway 55 and Annapolis Lane, to $10,000.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Neils , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Davenport, Councilmembers Hoyt, Neils,
Schneider and Threinen
The following voted against or abstainea: None
Whereupon the Resolution was declared duly passed and adopted.