HomeMy WebLinkAboutCity Council Resolution 1990-365CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of
City Council of the City of Plymouth, Minnesota, was held on the 18th day
June , 1990 The following members were present:
Mavor Beraman. Councilmembers Helliwell. Ricker. Vasiliou. and Zitur
the
of
Councilmember Vasiliou introduced the following Resolution and
moved its adoption:
RESOLUTION 90-365
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR HOYT DEVELOPMENT COMPANY
(86127)
WHEREAS, a Site Plan for Hoyt Development Company for property located at 2605
Fernbrook Lane was approved under City Council Resolution 87-05; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of letters of credit in the amount of $6,800 and $15,607; and,
WHEREAS, the aggregate letters of credit were reduced from $198,137 to $22,407
by Resolutions 87-636, 88-634 and 88-635; 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
Letter of Credit 5299 in the amount of $6,800 and Letter of Credit 225 in the
amount of $15,607, which were submitted to guarantee site improvements for
Hoyt Development Company.
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 Bergman, Councilmembers
Helliwell Ricker Vasiliou and Zitur
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.