HomeMy WebLinkAboutCity Council Resolution 1987-635CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a �regu_l�ar� meeting of the City Council of the
City of Plymouth, Minnesota, was held on the StFi day of October , 1987. The
following members were present: Mayor Schne e� r, Councilmen VasMou, Zitu`r,
Crain and Sisk
The following members were absent: None
Counclimember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87-635
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR HOYT DEVELOPMENT (86127)
WHEREAS, a Site Plan for Hoyt D-velopment 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 $101,647.00; 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. 224 in the amount of $101,647.00 which was submitted to guarantee site
Improvements for Hoyt Development located at 2605 Fernbook Lane to $7,350.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the follow ng
voted In favor thereof: ayor 5chnelder, Councilmembers Vasillou, Zitur, Crain and
Sisk heo owing
voted against or abstained: None Whereupon the
Resolution was declared duly passed and adopted.