HomeMy WebLinkAboutCity Council Resolution 1989-073CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the
City Council of the City of Plymouth, Minnesota, was held on the 6th day
of February 19_89 The following members were present:
Mayor Schneider, Councilmembers Vasiliog, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 89-73
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR SUPERIOR FORD INC.
(88130)
WHEREAS, a site plan for Superior Ford Inc. located at 9700 56th Avenue North
was approved under Resolution No. 88-787; and,
WHEREAS, the developer submitted the required site performance guarantee in
the form of a Letter of Credit in the amount of $218,720; 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 the reduction of
the Letter of Credit No. 88-014 in the amount of $218,720 which was submitted
to guarantee site improvements for Superior Ford Inc. located at 9700 56th
Avenue North to $158,720.
The motion for adoption of the foregoing Resolution was duly seconded
by rounrilmember Zitur , and upon vote being taken thereon,
the following voted in favor thereof: mayor Schneider. Councilmembers
Vasi:iou, Ricker, Zitur and Sisk
The following voted against or abstained None
Wherâ–ºupon the Resolution was declared duly passed and adopted.