HomeMy WebLinkAboutCity Council Resolution 1983-666I
CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth, Minnesota was 9613 on the 501 day of
December , 1983. The following members were presenti T��Ta-yorr D�avenport,
�ounc meer eats and Schneider The follow P ng members were
a sent:ounc m e ,
Councilmember Schneider introduced the following Resolution and moved Its s
adoption:
RESOLUTION NO. 33- 666
REDUCING DEVELOPMENT BOND
WEST RIDGE ESTATES FOURTH ADDITION (A-745)
WHEREAS, in accordance with the revised development contract dated March 1,
1982, Laukka and Associates Inc., developer of West Ridge Estates Fourth
Addition (A-745), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of the street and utility
improvements; and
WHEREAS, In accordance with City ordinances the developer provided Letter of
Credit No. 3252 to guarantee the payment of the first two years of special
assessments•, and
WHEREAS, the developer has paid the 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, MINNESOTA that the bonding requirements are reduced as follows:
PUBLIC PURLIC
ORIGINAL AMOUNT NEW AMOUNT
Two year payment guarantee
for special assessments $89,478.60 None
That the letter of credit be released.
The motion for the adoption of the foregoing Resolution was duly seconded by
Gouncilmember Neils , and upon vote being taken thereon, the
o ow ndg vote n avor the Mayor Davenport, Councilmembers Neils and
Schneider
Me TOLIOWL59 voted against or abstained:
Whereupon the Resolution was declared duly passed and adopted.
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