HomeMy WebLinkAboutCity Council Resolution 1987-716CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a special meeting of the City Council of the
City of Plymouth, Minnesota, was held on th_e7__7Z_tF day of October , 1987. The
following members were present: Mayor Schne der, ouncilmem ers as Tmou, Zitur,
Crain and Sisk e
following mem ers were absent: None
Councilmember Sisk introduced the following Resolution and moved Its
adoption:
RESOLUTION NO. 87-716
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR DEAN JOHNSON FOR CREEKSIDE OF
PLYMOUTH 2ND ADDITION (79018)
WHEREAS, a Final Plat for Dean Johnson for Creekside of Plymouth 2nd Addition located
north of 38th Avenue North and Orchid Lane was approved under City Council Resolution
No. 83-371; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $171,230.00; and,
WHEREAS, the City Council under Resolution No. 85-09, authorized the reduction of the
Letter of Credit to $130,272.50; and,
WHEREAS, the City Council under Resolution No. 85-865, authorized the reduction of the
Letter of Credit to $91,555.00; and,
WHEREAS, the City Council under Resolution No. 86-700, authorized the reduction of the
Letter of Credit to $24,550.00; 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. S84929 in the amount of $24,550.00 which was submitted to guarantee site
Improvements for Dean Johnson for Creekside of Plymouth 2nd Addition located north of
38th Avenue North and Orchid Lane, to $10,000.00.
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: or, neider, Councilmembers Vasiliou, Zitur, Crain
and Sisk eo ow nq
vote7-against or a s a ne one hereupon the
Resolution was declared duly passe and adopted.