HomeMy WebLinkAboutCity Council Resolution 1987-636CITY 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 day of October , 1987. The
following members were present: Mayor Schnei erd' , ncilmembers as ou, Zitur, Crain
and Sisk The
following mem ers were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87-636
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 $31,215.00; 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 THt CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA, that it should and hereby does authorize the reduction of the Letter of
Credit No. 225 in the amount of $31,215.00 which was submitted to guarantee site
Improvements for Hoyt Development located at 2605 Fernbook Lane to $15,607.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Counclimember Zitur , and upon vote being taken thereon, the follow ng
voted In favor thereof: a or Schneider, Councilmembers Vasiliou, Zitur, Crain and
Sisk the o ow nq
voted against or a sta ne one Whereupon the
Resolution was declared duly passed and adopted.