HomeMy WebLinkAboutCity Council Resolution 1986-665CITY OF PLYVAK M
Pursuant to due call and notice thereof, a regular meeting of the City Council of the
City of Plymouth, Minnesota, was held on theft — day of October . 1986. The
following members were present: Mayor Schneider, ZouncilmembersZraIn,'Vas�liou, and
Zitur The
following members were absent: Councilmember Sisk
Councilmember Crain introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86-665
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR BANNER ENGINEERING (A-311)
WHEREAS, a Site Plan for Banner Engineering located at 9714 Tenth Avenue North was
approved under City Council Resolution No. 85-352; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $288,750.00; and,
WHEREAS, upon notice from the developer that required site improvements have been
completed, City staff has inspected said site and recommends release of the Fiancial
Guarantee;
' NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that it should and hereby does authorize the release of the Letter of Credit
No. SB3680 in the amount of $288,750.00 which was submitted to guarantee site
improvements for Banner Engineering located at 9714 Tenth Avenue North.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote beinq taken thereon, the o ownq
voted In favor thereof: Mayor Schneider, Councilmembers Crain, Vasiliou, and Zitur
heo ow nq
voted against or abstained: none hereupon the
Resolution was declared dulf passed and a opte