HomeMy WebLinkAboutCity Council Resolution 1988-635CITY 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,
19 88 The following members were present: Mayor Schneider, Councilmembers
Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved
its adoption:
RESOLUTION 88-635
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 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 $101,647; and,
WHEREAS, the City Council, under Resolution No. 87-635 approved the reduction to
$7,350; 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 is should and hereby does authorize release of the Letter of Credit
Number 224 in the amount of $7,350 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
Councilmember Zitur , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider. Councilmembers Vasiliol,
Ricker, Zitur and Sisk The
following voted against or abstained None Whereupon
the Resolution was declared duly passed and adopted.