HomeMy WebLinkAboutCity Council Resolution 1988-634CITY 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 3rd day of October,
1988 The following members were present:
Mayor Schneider, Councilmembers VaRilin,j- RirkPr� 7jtur znd Sick
The following members were absent: NnnP
Councilmember Sisk introduced the following Resolution and moved
its adoption:
RESOLUTION 88- 634
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR HOYT DEVELOPMENT (86127)
WHEREAS, a Site Plan for Hoyt Development located at 2705 Fernbrook Lane was
approved under 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 $65,275; and,
WHEREAS, the City Council, under Resolution No. 87-634, approved the reduction to
$5,000; 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 Number 223 in the amount of $5,000, which was submitted to guarantee site
improvements for Hoyt Development located at 2705 Fernbrook Lane.
The motion for adoption of the foregoing Resolution was duly seconded by
QtjnrilmpmhPr Zir„r , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider, Cuuncilmembers Vasiliou
Ricker, Zitur and Sisk The
following voted against or abstained None Whereupon
the Resolution was declared duly passed and adopted.