HomeMy WebLinkAboutCity Council Resolution 1981-268CITY OF PLYMOUTH
Pursuant to due call and notice thereof, are ular meetino of
the City Council of the City of Plymouth, Minnesota was held on the
20th day of _ April , 1981 . The following members were
present: or Davenport. Councilmembers Hovt, Neils, Schneider and Threinen•
The following members were absent: - none
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CQu0cilmember Schneider introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 81- 268
REDUCING DEVELOPMENT BOND
APPLECREST ADDITION (A-712)
WHEREAS, in accordance with the development contract dated September 19, 1977,
Patrick. Henry, developer of Applecrest Addition (A-712), has agreed to install
certain improvements for said development, and
WHEREAS, the developer has completed a portion of the street, utility and site
grading as noted below, and
WHEREAS, the developer has requested a reduction of the development bond to
reflect the completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the bonding requirements are reduced as follows:
ITEM ORIGINAL AMOUNT NEW AMOUNT
Two year payment guarantee
for special assessments $38,746 $0
That the letter of credit which was previously reduced to $16,686 be further reduced
to $0 to .-eflect the paid assessments.
The motion for the adoption of the foregoing Resolution was duly seconded by
and upon vote being taken thereon, the
following voted in favor ereo : Mayor Davenport. Council rairibers Hoyt. Neils,
The following voted against or abstained: N ne
Whereupon the Resolution was declared duly passed and adopted.