HomeMy WebLinkAboutCity Council Resolution 1990-667CITY OF PLM40VTH
Pursuant to due call and notice thereof, a racular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 15th day of
Octnher, 194Q The following members were present: _Mayor Bergman.
Councilmembera Helliwell, Ricker, Vasiliou, and Zitur _
The following members were absent: None
OOunCilmember Ricker _. introduced the following Resolution and
moved its adoption:
RESOLUTION 90-667
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR OPUS CORPORATION (88146)
WHEREAS, a Site Plan for Schneider USA, 5905 Nathan Lane, was approved under
City Council Resolution 89-237; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $1,069,000.00; and,
WHEREAS, the City Council, under Resolution 89-652, authorized the reduction
of this Letter of Credit to $206,000.00; 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 #SB8479 in the amount of $206,000.00, which was submitted
to guarantee site improvements for Schneider USA.
The motion for adoption of the foregoing Resolution was duly seconded
by Councii+mVasiliou , and upon vote being taken thereon,
the following voted in favor thereof: _Mayor Berg=nn, Councilmembers
Helliwell. Ricker, Vasiliou._ _aijcL_ajt
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.
(rea/jk/88146)