HomeMy WebLinkAboutCity Council Resolution 1986-094CITY OF PLYMOUTH
Pursuant to due call and notice thereof, as?ecial meeting of the City Council of
the City of Plymouth, Minnesota, was held on the 10th day of February . 1986.
The following members were present: Mayor Schneider. Councilmembers Crain, isk,
Zitur and Vasiliou
The following members were absent: none
Councilmember Sisk introduced the following Resolution and moved Its
adoption:
RESOLUTION NO. 86- 94
AUTHORIZING REDUCTION IF SITE PERFORMANCE GUARANTEE FOR NORDIC DEVELOPMENT OF PLYMOUTH,
INC. (84072)
WHEREAS, a Site Plan for Nordic Development of Plymouth, Inc. located northeast of
Vicksburg Lane and 28th Avenue was approved under City Council Resolution No. 84-730;
and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $275,946.00; 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. 67308 in the amount of 5275,946.00 which was submitted to guarantee site
improvements for Nordic Development of Plymouth, Inc. located northeast of Vicksburg
Lane and 28th Avenue North, to $25,000.00.
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 Schneider, Councilmeribers Crain, Sisk,
Zitur and Vasiliou
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adapted.