HomeMy WebLinkAboutCity Council Resolution 1991-369CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a re lar meeting of the
City Council of the City of Plymouth, Minnesota, was e d on the 1st day
of hily __
19_2L The following members were present:
,o Ber nan Councilmembers Helliwell, Ricker, Vasiliou, and Zitur
The following members were absent: None
Councilmember Zitur introduced the following Resolution and
move its adoption:
RESOLUTION 91- 369
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR CACO PROPERTIES COMPANY
(90027)
WHEREAS, a Site Plan for Control Assemblies, located at 15400 Medina Road, 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, the City Council, under Resolution 90-114, authorized a reduction of
the Letter of Credit to $20,300; 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 Number NCB60006/SB51632 in the amount of $20,300, which
was submitted to guarantee site improvements for Control Assemblies.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember Helliwell and upon vote being taken thereon,
the following voted in favor thereof: Mayor Bergman, Councilmembers Helliwell,
The folTowing voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.
(res/cc/90027/rel:dh)