HomeMy WebLinkAboutCity Council Resolution 1991-652CITY OF PLYMOUTH
RESOLUTION 91-652
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR INDEPENDENT SCHOOL
DISTRICT 284 (WAYZATA) FOR GLEASON LAKE ELEMENTARY SCHOOL (88036)
WHEREAS, a Site Plan for Independent School District 284 for Gleason Lake
Elementary School was approved under City Council Resolution 88-502; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of an agreement for use of Commercial Paper in the amount of
$438,233; and,
WHEREAS, the City Council, under Resolution 90-158, authorized the reduction
of the Commercial Paper to $50,000; and,
WHEREAS, upon notice from the developer, City staff has inspected said site
and recomwends 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 Commercial Paper in the amount of $50,000, which was submitted to
guarantee site improvements for Independent School District 284 for Gleason
Lake Elementary School.
Adopted by the City Council on October 21, 1991.
(res/cc/88036)