HomeMy WebLinkAboutCity Council Resolution 1991-600CITY OF PLYMOUTH
RESOLUTION 91- 600
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR OPUS CORPORATION FOR
NATHAN 54 CENTER LOCATED AT THE NORTHEAST CORNER OF 54TH AVENUE NORTH AND
NATHAN LANE (90001)
WHEREAS, a Site Plan for OPUS Corporation for Nathan 54 Center was approved
under City Council Resolution 90-140; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $228,100; and,
WHEREAS, the City Council, under Resolution 90-603 authorized a reduction of
the letter of credit to $26,100; 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 in the amount of $26,100 which was submitted to guarantee
site improvements for OPUS Corporation for Nathan 54 Center.
Adopted by the City Council on October 7, 1991.
(res/cc/90001)