HomeMy WebLinkAboutCity Council Resolution 1989-471CITY 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 21st day
of August , 1989 The following members were present:
Mayor Schneider, Counciltaembers Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
Mayor Schneider
moved its Joption:
introduced the following Resolution and
RESOLUTION 89-471
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 City Council Resolution 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, the City Council on February 6, 1989, under Resolution 89-73
authorized the reduction of the letter of credit to $158,720; 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 $158,120 which was submitted
to guarantee site improvements for Superior Ford, Inc., located at 9700 56th
Avenue North to $10,000.
The motion for adoption of the foregoing Resolution was duly seconded
by Council Pr 2.itur , and upon vote being taken thereon,
the following voted in favor thereof: mauor Schneider, QjncilmPmhpra
The following voted against or abstained Councilmember Val
Whereupon the Resolution was declared duly passed and adopted.