HomeMy WebLinkAboutCity Council Resolution 1991-114CITY OF PLTId uTK
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the Ath day of
March, 1991_ The following members were present: _Mayor Bergman,
Counnilmemers HelliwallRicker, Va-iliou, anei zit
The following members were absent: None
CounCintroduced the following Resolution and
moved its adoption:
RESOLUTION 90-114
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR CACO PROPERTIES
COMPANY (90027)
WHEREAS, a Site Plan for Control Assemblies, located in Lot 3, Block 1, Volp
Industrial Park, was administratively approved on May 21, 1990; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $100,000; and,
WHEREAS, upon notice from the developer, City 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 a $79,700
reduction of the Letter of Credit $NCB6006/SB51632 which was aub®itted to
guarantee site improvements for Control Assemblies to a new total guarantee of
$20,300.
The motion for adoption of the foregoing Resolution was duly seconded
Ricker , and upon vote being taken thereon,
the following voted in favor thereof: Mavor Barnmwn_
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.
(cc/res/90027:1r)