HomeMy WebLinkAboutCity Council Resolution 1986-662CITY OF PUMMITH
Pursuant to due call and notice thereof, a regular meeting of the City Council of the
City of Plymouth, Minnesota, was held on tAe 6th day of October . 1986. The
following members were present: Mayor Schneiders ilwewbers : n, as liou; and
ZiturThe
following rs were absent: Couniallmember Sisk
Councilmember Crain i-ttroduced the following Resolutl.on and moved its
adopt on:
RESOLUTION NO. 86-662
AUTHORIZING REDUCTION OF SITE IMPROVEMENT PERFORMANCE GUARANTEE FOR ADVANCE MACHINE
COMPANY (85046)
WHEREAS, a Site Plan for Advance Machine Company located at 14600 21st Avenue North,
was approved under City Council Resolution No 85-113; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $126,750.00; and,
WHEREAS, upon notice from the developer, City staff has inspected said site and
recommends reduction of the Financial Guarantee;
10 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. 67484 in the amount of $126,750.00 which was submitted to guarantee site
Improvements for Advance Machine Company at 14600 21st Avenue North, to $20,000.00.
The motion for adoption of th- foregoing Resolution was duly seconded by
Counclimember Zitur 'and upon vote being taken thereon, the follow nq
voted in favor thereof: or Schneider, Councilwembers Crain, Vasiliou, and Zitur
The following
voted against or abstained: none Whereupon the
Resolution was declared duly passed and a opte .