HomeMy WebLinkAboutCity Council Resolution 1991-653CITY OF PLYMOUTH
RESOLUTION 91-653
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR INDEPENDENT SCHOOL
DISTRICT 284 (WAYZATA) FOR PLYMOUTH CREEK ELEMENTARY SCHOOL (88035)
WHEREAS, a Site Plan for Independent School District 284 for Plymouth Creek
Elementary School was approved under City Council Resolution 88-389; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Bankers Acceptance in the amount of $480,415; and,
WHEREAS, the City Council, under Resolution 90-151, authorized the reduction
of the Bankers Acceptance to $20,000.
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 Bankers Acceptance in the amount of $20,000, which was submitted to
guarantee site improvements for Independent School District 284 for Plymouth
Creek Elementary School.
Adopted by the City Council on October 21, 1991.
(res/cc/88035)