HomeMy WebLinkAboutCity Council Resolution 1982-416CITY 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 lbth day of August . 1982.
The following members were present: Acting Mayor Davenport, Counci imemBers en, —
following ers were sent: Mayor Davenport
t�
Councilmember Neils introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 82-416
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR BANCO PROPERTIES, INC. (890036)
WHEREAS, a site plan for Banco properties, Inc. located at 3000 Fernbrook Lane No., was
approved under City Council Resolution No. 80-552; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $145,354.00; and,
WHEREAS, the Plymouth City Council reduced this Letter of Credit to $10,000.00 by
Resolution No. 82-42; and,
WHEREAS, upon notice from the developer that required site improvements had been
completed, City staff has inspected said site and recommends release 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 authorise the release of Letter of Credit
No. 80-142 in the amount. of $10,000.00 which was submitted to guarantee site
improvements for Banco Properties, Inc. located at. 3000 Fernbrook Lane No.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Moen _ , and upon vote being taken thereon, t
following voted In favor thereof: Actino Mayor Schneider, Councilmembers Moen,
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopt