HomeMy WebLinkAboutCity Council Resolution 1992-194CITY OF PLYMOUTH
RESOLUTION 92-194
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR LAUKKA-WILLIAMS
PARKERS LAKE NORTH 6TH ADDITION LOCATED AT 18TH AVENUE NORTH AND SHENANDOAH
LANE (90066)
WHEREAS, a Site Plan for Parkers Lake North 6th Addition was approved under
City Council Resolution 90-630; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $149,760; 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 $78,340
reduction of the Letter of Credit #5400463 which was submitted to guarantee
site improvements for Parkers Lake North 6th Addition to a new total guarantee
of $71,420.
Adopted by the City Council on April 6, 1992.
(res/cc/90066:jw)