HomeMy WebLinkAboutCity Council Resolution 1988-699CITY 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 17th day
of October , 19.U_ The following members were present:
Mayor Srhnaider, Councilmembers Vasiliou. Ricker. Zitur and Sisk
The following members were absent: None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 88-699
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR ADVANCE MACHINE CO.
(88023)
WHEREAS, a Site Plan for Advance Machine Company located at 14600 21st Avenue
North was administratively approved; and
WHEREAS, the Developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $73,700; and,
WHERCAS, 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 71820 in the amount of $73,700 which was submitted
to guarantee site improvements for Advanced Machine Company located at 14600
21st Avenue North to $4,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Counr_ilffe her 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.