HomeMy WebLinkAboutCity Council Resolution 1985-866CITY OF PLYMUUTH
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota, was held on the 21st day of Octobc, , 19L5.
The following members were present: Mayor Davenport. Councilmembers Crain, Neils,
Schneider and Vasiliou
The following members were absent: none
Councilr9ember Neils introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 85-866
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR CENTURION COMPANY (80045)
WHEREAS, a Site Plan for Centurion Company for Fox Forest 2nd Addition located east of
18th Avenue and Highway 55, was approved under City Council Resolution No. 84-696; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $162,000.00; and,
WHEREAS, upon notice from 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. 1005 in the amount of $162,000.00 which was submitted to guarantee site
Improvements for Centurion Company for Fox Forest 2nd Addition located east of 18th
Avenue North and Highway 55, to $77,800.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Vasiliou , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Davenport, Councilmembers Crain, Neils,
Schneider and Vasiliou
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.