HomeMy WebLinkAboutCity Council Resolution 1992-501CITY OF PLYMOUTH
RESOLUTION 92-501
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR INDEPENDENT SCHOOL
DISTRICT 284 (WAYZATA) FOR KIMBERLY LANE ELEMENTARY SCHOOL LOCATED SOUTH OF
COUNTY ROAD 9, WEST OF HOLLY LANE (90031)
WHEREAS, a Site Plan for Kimberly Lane Elementary School was approved under
City Council Resolution 90-338; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Commercial Paper in lieu of bond in the amount of $719,492; and,
WHEREAS, the City Council, under Resolution 91-659 authorized the reduction of
the Commercial Paper to $20,380; and,
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 Commercial Paper in the amount of $20,380, which was submitted to
guarantee site improvements for Independent School District 284 (Wayzata) for
Kimberly Lane Elementary School.
Adopted by the City Council on August 31, 1992.