HomeMy WebLinkAboutCity Council Resolution 1989-421CITY 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 24th day
of July 19_n_ The following members were present:
Mayor Schneider, Councilmembers Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 89-421
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR ALLIED PLASTICS, INC.
(86137)
WHEREAS, a Site Plan for Allied Plastics, Inc., located 3005 Ranchview Lane
was approved under City Council Resolution 87-97; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $192,000; and,
WHEREAS, the City Council under Resolution 87-242 authorized the reduction of
the financial guarantee to $120,000; arid,
WHEREAS, the City Council under Resolution 87-310 authorized the reduction of
the financial guarantee to $96,600; and,
WHEREAS, the City Council under Resolution 87-408 authorized the reduction of
the financial guarantee to $87,600; and,
WHEREAS, the City Council under Resolution 87-482 authorized the reduction of
the financial guarantee to $10,000; 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 certificate of deposit in the amount of $10,000, which was submitted to
guarantee site improvements for Allied Plastics, Inc., located at 3005
Ranchview Lane.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember Sisk , and upon vote being taken thereon,
the following voted in favor thereof: Magor Srhnaidpr,, rnisnCj1mPmhers
Vas_iliau,Rirkor- Zittir and Sisk
The following voted against or abstained None _
Whereupon the Resolution was declared duly passed and adopted.