HomeMy WebLinkAboutCity Council Resolution 1987-729CITY OF PLVNOUTH
Pursuant to due call and notice thereof, a regular meeting of the City Council of the
City of Plymouth, Minnesota, was held on the ` 2nd day of November , 1987. The
following members were present: Mayor Schnei ed i—�ouncilmen�►ers as ou Zitur,
Crain and Sisk e
following rs were absent:
Councilmember Sisk introduced the following Resolution and moved Its
adoption:
RESOLUTION NO. 87-729
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR HCE PROPERTIES (85135)
WHEREAS, a Site Plan for HCE Properties for a site located at 12795 16th Avenue North
was approved under City Council Resolution No. 86-184; and,
WHEREAS, the developer submitted the required Site Performance Guarantee In the form of
a Letter of Credit in the amount of $135,992.00; and,
WHEREAS, the City Council under Resolution No. 86-702 reduced the Letter of Credit to
$90,992.00; 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. 1484 In the amount of $90,992.00 which was submitted to guarantee site
Improvements for HCE Properties at 12795 16th Avenue North, to $6,000.00.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the folIow ng
voted In favor reo or Schneider, Councilmembers Vasiliou Zitur,
Crain and Sisk The following
voted against or a s a ne h None Whereupon the
Resolution was declared duly passed and aft0ted.