HomeMy WebLinkAboutCity Council Resolution 1989-612CITY 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 2nd day
Of October , 19_L9_ The following members were present:
Mayor S hneider Councilmembers Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
councilmember Zitur introduced the following Resolution and
moved its adoption:
RESOLUTION 89-612
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR OTTO BOCK (87054)
WHEREAS, a Site. Plan for Otto Bock located at 3000 Campus Drive was approved
under City Council Resolution 87-427; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $172,500; and,
WHEREAS, the City Council under Resolution 88-701 authorized the reduction of
the financial guarantee to $25,000; 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 Letter of Credit No. 6150 in the amount of $25,000, which was submitted to
guarantee site improvements for Otto Bock located 3000 Campus Drive.
The motion for adoption of the foregoing Resolution was duly seconded
b,yY_ Councilmember Sisk , and upon vote being taken thereon,
the following voted in favor thereof: Mayor Schneider, Councilmembers Vasiliou,
Ricker. Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.