HomeMy WebLinkAboutCity Council Resolution 1988-479CITY 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 theday of August , 1988. The
following members were present: Mayor Schneide– r—Touncilmembers asiliou, Ricker,
Zitur and Sisk The
following members were absent: ne
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-479
AUTHORIZING RELEASE OF SIDE PERFORMANCE GUARANTEE FOR LARSON-OLSON (86053)
WHEREAS, a Site Plan for Larson -Olson for property at 12811 16th Avenue North was
approved under City Council Resolution No. 86-377; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form of
a Letter of Credit in the amount of $123,694.00; and,
WHEREAS, the City Council under Resolution No. 87-407 authorized the reduction of the
financial guarantee to $17,540.00; and,
WHEREAS, upon notice from the developer, City staff has inspected said site and
recommends release 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 release of the Letter of Credit
No. 3604 in the amount of $17,540.00 which was submitted to guarantee site improvements
for Larson -Olson for property located at 12811 16th Avenue North.
The motion for adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the following
voted in favor thereof: _ ayor hneider, Councilmembers Vasiliou, Ricker,
Zitur and Sisk The following
voted against or abstained: None Whereupon the
Resolution was declared duly passed and adopted.