HomeMy WebLinkAboutCity Council Resolution 1988-700CIFY 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 88 The following members were present:
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The following members were absent: None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 88-700
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR QUALITY HOMES, INC.
(87037)
WHEREAS, a Site Plan for Quality Homes, Inc. located at 4465 Trenton Lane was
approved under City Council Resolution Number 87-390; and,
WHEREAS, the Developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $45,707; 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 211 in the amount of $45,707 which was submitted
to guarantee site improvements for Quality Homes, Inc. located at 4465 Trenton
Lane to $15,000.00.
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.