HomeMy WebLinkAboutCity Council Resolution 1989-446CITY 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 7th day
of August , 19 89 The following members were present:
Mayor Schneider, Councilmembers Vasiliou_ Ricker. Zitur and Gia
The following members were absent: None
Councilmember Sisk introduced the following Resolution and
moved its adoption:
RESOLUTION 89-446
AUTHORIZING REDUCTION OF SITE IMPROVEMENT PERFORMANCE GUARANTEE FOR CENTURION
COMPANY FOR VICKSBURG PLAZA (88081)
WHEREAS, a Site Plan for Centurion Company for Vicksburg Plaza located at 1125
Vicksburg Lane was approved under City Council Resolution No. 88-507; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a letter of credit in the amount of $81,500; 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. 1208 in the amount of $81,500, which was submitted to
guarantee site improvements for Centurion Company for Vicksburg Plaza located
at 1125 Vicksburg Lane to $5,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Councilmember Ricker and upon vote being taken thereon,
the following voted in favor thereof: _ Mayor Schneider Councilmemhers
Vasil.iou. Ricker, Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.