HomeMy WebLinkAboutCity Council Resolution 1987-403CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a Reaular meeting of the City Council of the
City of Plymouth, Minnesota, was held on the 15th day of June 19AL. The
following members were present: _
Mavor Schneider_ CnunrjIMCMhers Crain. Sisk_ Zit d Vasiliou e
following members were absent: none
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 97-403
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTFE FOR CENTURION COMPANY FOR FOX FOREST
2ND ADDITION (80045)
WHEREAS, a Site Plan for Centurion Company for Fox Forest 2nd Addition located east of
Highway 44 and 18th Avenue North was approved under City Council Resolution No. 84-696;
and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit In the amount of 8162,000.00; and,
WHEREAS, the City Council under Resolution No. 85-866 authorized the reduction of the
financial guarantee to 577,800.00; and,
WHEREAS, upon notice from the developer, City staff has inspected said site and recom-
mends release of the financial guarantee;
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 release of the Letter of Credit
No. 10005 in the amount of 577,800.00 which was submitted to guarantee site
Improvements for Centurion Company for Fox Forest 2nd Addition located east of Highway
55 and 18th Avenue North.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilr Zitur , and upon vote being taken thereon, the following
voted In favor thereof: Mawr Schneider, Councilmembers Crain, Sisk,
Zitur and Vasiliou he following
voted against or abstained: none whereupon the
Resolution was declared duly passed and adopted.