HomeMy WebLinkAboutCity Council Resolution 1990-513CITY 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 20th day of August ,
1990. The following members were present: Mayor Bergman. Council_members ,
14P11jwP11. Ricker, Vnsilinu- and Zitur
The following members were absent: None
Cnuncilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90- 513
SETTING CONDITIONS ON RESOLUTION NO. 404
ADOPTED JULY 2, 1990
QUAIL RIDGE OF PLYMOUTH 4TH ADDITION (87134)
WHEREAS, in accordance with the development contract dated July 18, 1988, CENVESCO,
Inc., developer of Quail Ridge 4th Addition (87134), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading
noted below; and
WHEREAS, the developer has requested a reduction of the development bond to reflect the
completed work; and
WHEREAS, the City Council adopted Resolution No. 90-404 on July 2, 1990; and
WHEREAS, subsequent to the adoption of Resolution No. 90-404, it was determined that
required financial guarantees for Quail Ridge of Plymouth Addition, Quail Ridge of
Plymouth 2nd Addition and Quail Ridge of Plymouth 3rd Addition had expired without the
City's knowledge; and
WHEREAS, Quail Ridge of Plymouth 4th Addition is part of Quail Ridge of Plymouth
Addition; and
WHEREAS, it is a requirement of the executed development contracts for each subdivision
that the developer provide the City with required financial guarantees;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA: that the following conditions are established and must be met prior to
release of Resolution No. 90-404:
1. Letter of Credit No. SB9712 dated May 1, 1990 shall be amended to include items
remaining to be completed in Quail Ridge Addition, Quail Ridge of Plymouth 2nd
Addition, Quail Ridge of Plymouth 3rd Addition; or
2. New and separate financial guarantees shall be provided to the City for Quail Ridge
of Plymouth Addition, Quail Ridge of Plymouth 2nd Addition, and Quail Ridge of
Plymouth 3rd Addition.
The motion for the adoption of the foregoing Resolution was duly seconded by
CnuncilmPmher Helliwell , 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.