HomeMy WebLinkAboutCity Council Resolution 1991-607CITY OF PLYMOUTH
RESOLUTION 91- 607
AUTHORIZING REDUCTION OF SITE PERFORKAKE GUARANTEE FOR INDUSTRIAL PARK
BUSINESS CENTER JOINT VENTURE (91005)
WHEREAS, a Site Plan for Industrial Park Business Center was approved under
City Council Resolution 91-202; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $15,462 ; 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 $14,962
reduction of the Letter of Credit #E3O27 which was submitted to guarantee site
improvements for Industrial Park Business Center to a new total guarantee of
$500.
Adopted by the City Council on October 7, 1991.
res/cc/91005/red