HomeMy WebLinkAboutCity Council Resolution 1982-644CITY 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
6th day of December , 19 82. The following members were
present: Mayor Davenpor ounce me ers Moen,—Neils, Schneider and Threinen .
The following members were absent: none
Mayor Davenport introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 82- 644
REDUCING DEVELOPMENT BOND
R.L.S. 1133 AND PART OF LOT 1, BLOCK 1, EAST OF ANNAPOLIS LANE OF
M.I.P. 2ND ADDITION (A-836)
WHEREAS, in accordance with the development contract, dated February 13, 1979,
Carlson Properties, Inc., developer of a lot consolidation/division of R.L.S.
1133 and that part of Lot 1, Block 1, east of Annapolis Lane of Minneapolis
Industrial Park 2nd Addition (A-836), has agreed to install certain improvements
for said development; and
WHEREAS, the developer petitioned the City to complete the street and utility
improvements; and
WHEREAS, in accordance with City ordinances the developer provided Bond No.
400FG3017 to guarantee the payment of the first two years of special assessments;
and
WHEREAS, the developer has paid the first two years of special assessments; and
WHEREAS, the developer has requested a reduction of the development bond to
reflect the completed payments;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH
that the bonding requirements are reduced as follows:
ITEM ORIGINAL AMOUNT NEW AMOUNT
Two year payment guarantee
for special assessments $72,477 None
That the letter of credit be released.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Threinen , and upon vote being taken thereon, the
following voted n favor thereof: Mayor Davenport, Councilmembers Moen,
Neils, Schneider and Threinen
e following voted against orabstained: none
Whereupon the Resolution was declared duly passed and adopted.