HomeMy WebLinkAboutCity Council Resolution 1981-813Nur
the
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meeting of
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Councilmember Neils introduced the following Resolution and
moved its adoption.
RESOLUTION NO. 81- 813
AUTHORIZING REDUCTION OF LETTER OF CREDIT FOR STEPHEN NESLUND (79068)
WHEREAS, a site plan for Stephen Neslund was approved for development at
23rd Avenue North and I-494 under; City Council Resolution No. 79-730; and,
WHEREAS, the developer submitted.a Letter of Credit as a site performance
guarantee in the amount of $40,,000.00; and,
WHEREAS, upon request of the developer, 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, MINNESOTA, that it should and hereby does authorize the reduction
of the Letter of Credit No. 80-125 in the amount of $40,000.00 which was
submitted to guarantee site improvements for Stephen Neslund at 23rd Avenue
North and I-494 to $10,000.00.
The motion for ,th
Councilmember`
of I owl � ng voted f
The foi,lowingy of
Mhereupon he Res