HomeMy WebLinkAboutCity Council Resolution 1991-006CITY or ?LIMUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the Joh day of
January_, 1991. The following members were present: Counellmambers Helliwall.
Ricker. Vasiliou, and Zitur _
The following members were absent: Mayor Bercman
Councilmember Ricker introduced the following Resolution and
moved its adoption:
RESOLUTION 91-6
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR CSM CORPORATION FOR
BASS LAKE HILLS TOWNHOMES (88060)
WHEREAS, a Site Plan for Bass Lake Hills Townhomes located at the southeast
corner of I-494 and County Road 47 was approved under City Council Resolution
89-291; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $823,388; and,
WHEREAS, the City Council, under Resolution 89-805, authorized the reduction
of the letter of credit to $340,000; and,
WHEREAS, upon notice from the developer, Csty staff has inspected said site
and recommends reduction 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 reduction of
the Letter of Credit No. 11515 in the amount of $340,000, which was submitted
to guarantee site improvements for CSM Corporation for Bass Lake Hills
Townhomes to $206,473.
The motion for adoption of the foregoing Resolution was duly seconded
by Co ncilmamhor zitur , and upon vote being taken thereon,
the following voted in favor thereof: rounc+imamh.rs Helliwell, Ricker,
Vasiliou. and Zitur
The following voted against or abstained___ None
Whereupon the Resolution was declared duly passed and adopted.