HomeMy WebLinkAboutCity Council Resolution 1988-698CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Counr I of the City of Plymouth, Minnesota, was held on the 17th day
of October, 1988 The following members were present:
Mayor Schneider Councilmembers Vasiliou, Ricker, zitur and Sisk
The following members were absent: None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 88- 698
AUTHORIZING REDUCTION OF SITE. PERFORMANCE GUARANTEE FOR 1501 PARTNERSHIP
(87132)
WHEREAS, a Site Plan for 1501 Partnership located at 4100 Berkshire Lane was
approved under Resolution No. 88-98; and
WHEREAS, the Developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $85,000; 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 Number A-1081 in the amount of $85,000 which was
submitted to guarantee site improvements for 1501 Partnership located at 4100
Berkshire Lane to $5,000.
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
Vasiliou. Ricker, zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.