HomeMy WebLinkAboutCity Council Resolution 1988-846CITY 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 5th day
of nPcember 19M The following members were present:
Mayor Schneider, Councilmembers Vasiliou and Sisk
The following members were absent: Councilmembers Ricker and zitur
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 88-846
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTY FOR OSCAR NAUSTDAL (87083)
WHEREAS, a Site Plan for Oscar Naustdal located at 10405 45th Avenue North was
approved under City Council Resolution No. 87-617; and,
WHEREAS, the developer submitted the required Site Performance Guaranty in the
form of a letter of credit in the amount of $124,460; and,
WHEREAS, upon notice from the developer, City Staff has inspected said site
and recommends reduction of the financial guaranty;
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 in the amount of $124,460 which was submitted to guaranty
site improvements for Oscar Naustdal located at 10405 45th Avenue North to
$15,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember Vasiliou , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Schneider, Councilmembers
Vasiliou and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.
r2/87083