HomeMy WebLinkAboutCity Council Resolution 1988-711CITY 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 izrh_ day
of n,-t-nhPr, 19_gg__ The following members were present:
Mayor S hn id oun ilmemhern Vasiliou- Ricker. Zitur and Sisk
The following members were absent:_ None
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 88-711
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR LUNDELL PROPERTIES
(87011)
WHEREAS, a Site Plan for Lundell Properties located at 2700 Ranch View Lane
was approved under City Council Resolution No. 87-342; and,
WHEREAS, the Developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $310,000; 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 the release of
the letter of credit Number 1089 in the amount of $310,000 which was submitted
to guarantee site improvements for Lundell Properties located at 2700 Ranch
View Lane.
The motion for adoption of the foregoing Resolution was duly seconded
by Gouncilmember 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.