HomeMy WebLinkAboutCity Council Resolution 1987-634CITY 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— tai day of October, 1987. The
fo'lowing members were present: Mayor Schne —er-, Zouncilmem ers as Zitur,
Crain and Sisk e
following mem ers were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87-634
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR HOYT DEVELOPMENT (86127)
WHEREAS, a Site Plan for Hoyt Development located at 2605 Fernbrook Lane was approved
under City Council Resolution No. 87-05; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $65,275.00; 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 No. 223 in the amount of $65,275.00 which was submitted to guarantee site
Improvements for Hoyt Development located at 2605 Fernbook Lane to $5,000.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the follow Tq
voted In favor thereof: � ayor Schneider, Councilmembers Vasiliou, Zitur, Crain
and Sisk The followirg
voted against or abstained: None Iffiereupon the
Resolution was declared duly passea and adopted.