HomeMy WebLinkAboutCity Council Resolution 1990-666CITY OF P7 `='MDUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 15th day of
October , 1922 The following members were present: -Hayor Berge
rou_ncilmarchers He7iiewll, Ricker. Vasiliou and Z+tur
The following members were absent: None
Coun _+ ]Memhor Ricker_______ -__ introduced the following Resolution and
moved its adoption:
RESOLUTION 90-666
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR UNITED PROPERTIES
DEVELOPMENT COMPANY (88138)
WHEREAS, a Site Plan for Productivity, Inc. located at 15150 25th Avenue North
was administratively approved; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $108,430; and,
WHEREAS, a reduction of the Site Performance Guarantee to $12,000 was approved
0 under City Council Resolution 89-802; 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 #588368 in the amount of $12,000, which was submitted to
guarantee site improvements for Productivity, Inc.
The motion for adoption of the foregoing Resolution was duly seconded
by CounQilmmbor Va i1;nu , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Bergmn, Council_m..mbera
Helliwell. Ricker, VasiliQ
The following voted against „T abstained None
Whereupon the Resolution was declared duly passed and adopted.
(res/cc/88138)