HomeMy WebLinkAboutCity Council Resolution 1992-118CITY OF PLYMOUTH
RESOLUTION 92-118
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR INDEPENDENT SCHOOL
DISTRICT 284 FOR OAKWOOD ELEMENTARY SCHOOL LOCATED AT THE NORTHEAST CORNER OF
COUNTY ROAD 6 AND COUNTY ROAD 101 (91008)
WHEREAS, a Site Plan for Oakwood Elementary School was approved under City
Council Resolution 91-127; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a savings certificate in lieu of cash of bond in the amount of
$98,111; 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 $91,614.50
reduction of the financial guarantee which was submitted to guarantee site
improvements for Oakwood Elementary School to a new total guarantee of
$6,496.50.
Adopted by the City Council on February 24, 1992.
(res/cc/91008)