HomeMy WebLinkAboutCity Council Resolution 1986-700CITY OF 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 WS day of October 1986. The
following members were present: Mayor Schneider, ouncilmembers ra n,s , Va—shiou,
and Zitur The
oloowing members were absent: none
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86-700
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR DEAN JOHNSON CONSTRUCTION FOR
CREEKSIDE OF PLYMOUTH 2ND ADDITION (79018)
WHEREAS, a Site Plan for Dean Johnson Construction for Creekside of Plymouth 2nd
Addition located south of Polaris Lane and County Road 9 was approved under City
Council Resolution No. 83-371; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $171,230; and,
WHEREAS, the City Council under Resolution No. 85-09 authorized the reduction of this
Letter of Credit to $130,272.50; and,
WHEREAS, the City Council under Resolution No. 85-865 authorized the reduction of this
Letter of Credit to $91,555; and,
WHEREAS, upon notice from the developer, city staff has inspected said site and
recommends reduction of the financial 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 reduction of the Letter of
Credit 584-5073 in the amount of $91,555 which was submitted to guarantee site
Improvements for Dean Johnson Construction for Creekside of Plymouth 2nd Addition
located south of Polaris Lane and County Road 9, to $24,,50.
The motion for adoption of the foregoing Resolution was duly seconded by
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Counciimcmber Sisk , and upon vote being taken thereon, t e f7lowing
voted In favor thereof: Mayor bchnelder, Councilmembers Crain, Sisk, Vasiliou, and
Zitur The rollowing
voted against or abstained: none hereupon the
Resolution was declared duly passed ani adopte