HomeMy WebLinkAboutCity Council Resolution 1988-638CITY 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
Vasil-iou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved
its adoption:
RESOLUTION 88- 638
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR SHERMAN-BOOSALIS INTEREST,
INC. (85056)
WHEREAS, a Site Plan for Sherman-Boosalis Interest, Inc. located at 11050 Highway 55
was approved under City Council Resolution No. 85-627; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the form
of a Letter of Credit in the amount of $54,475; and,
WHEREAS, the City Council, under Resolution No. 87-156 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 release of the Letter of Credit
Number 68209 in the amount of $5,000 which was submitted to guarantee site
improvements for Sherman-Boosalis Interest, Inc. located at 11050 Highway 55.
The motion for adoption of the foregoing Resolution was duly seconded by
rouncilmember Zitur , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider- Cnnnriltmmharc VaSiliou,
ticker. Ziturand Sisk The
following voted against or abstained None Whereupon
the Resolution was declared duly passed and adopted.