HomeMy WebLinkAboutCity Council Resolution 1987-051CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a special meetlnq of the City Council of the
City of Plymouth, Minnesota, was held on thday of Januar , 1987. The
following members were present: Mayor Schneider, Zouncilmembers rainSisk, and
Vasiliou The
following members were absent: Councilmember Zitur
Councilmember Vasiliou Introduced the followinq Resolution and moved Its
adoption:
RESOLUTION NO. 87-51
AUTHOR'ZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR STUART CORPORATION (86014)
WHEREAS, the site plan for Stuart Corporation located at 15300 37th Avenue, was
approved under City Council Resolution No. 86-188; and
WHEREAS, the developer submitted the required site performance guarantee In the form of
a Letter of Credit in the amount of $262,800; 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, MIN -
NESOTA, that it should and hereby does authorize the reduction of the Letter of Credit
No. P1180 in the amount of $262,800 which was submitted to guarantee site improvements
for Stuart Corporation at 15300 37th Avenue, to $147,800.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk , and upon vote being taken thereon, the following
voted in favor thereof: Mayor hneider, Councilmembers Crain, Sisk, and Vasiliou
The following
voted against or abstained:— none hereupon the
Resolution was declared duly passed and adopted.