HomeMy WebLinkAboutCity Council Resolution 1984-443CITYOF 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 2nd day
of July , 1984. The following members were presentActing Mayor
Schneider. ouncilmembers Moen and Crain
The following members were absent: Mayor Davenport, Councilmember Nelis
Councilmember Crain introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 84- 443
REDUCING DEVELOPMENT BOND
OXBOW RIDGE ADDITION (81035)
WHEREAS, in accordance with the development contract dated May 17, 1982,
Richard J. Deziel and Irene T. Deziel, developer of Oxbow Ridge Addition
(81035), 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. 62687 to guarantee the payment of the first two years of special
,assessments; and
WHEREAS, the developer has paid the entire assessment on seven lots; and
WHEREAS, the developer has requested a reduction of the developsient bond to
10 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:
ITEM 4.
Two year payment guarantee
for special assessments
ORIGINAL AMOUNT NEW AMOUNT
$172,000 $31,290
That the letter of credit required be reduced from $172,000 to $31,290 to
reflect the payments made to date.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Moen , and upon vote being taken thereon, the
following voted in favor thereof: Acting Mayor Schneider, Councilmembers
Njen apo Crain
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.