HomeMy WebLinkAboutCity Council Resolution 1989-075CITY 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 F,.hruary 19W The following members were present:
Mayor Schneider, Councilmembers asiliou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 89-75
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR MIDWEST BRICK AND
SUPPLY COMPANY (87064)
WHEREAS, a site plan for Midwest Brick and Supply Company located at 5205
County Road 18 was approved under City Council Resolution No. 87-516; and,
WHEREAS, the developer submitted the required site performance guarantee in
the form of a Letter of Credit in the amount of $225,000; and,
WHEREAS, the City Council under Resolution No. 88-12 authorized the reduction
of the Letter of Credit to $55,000; 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. SB6205 in the amount of $55,000 which was submitted
to guarantee site improvements for Midwest Brick and Supply Company located at
5205 County Road 18 to $20,000.
The motion for adoption of the foregoing Resolution was duly seconded
by--ccjncilmember zitur , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Schneider, Councilmembers
UnRiliou_ Ricker. Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.