HomeMy WebLinkAboutCity Council Resolution 1989-659CITY 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 16rh day
of October , 19_L9_ The following members were present:
_Mayor Schneider, Councilmembers Vasiliou, Ricker, Zitur and Sisk _
The following members were absent: None
Councilmember Sitar introduced the following Resolution and
moved its adoption:
RESOLUTION 89-659
AUTHORIZING RELEASE OF SITE PERFORMANCE GUARANTEE FOR QUALITY HOMES, INC., FOR
SAGAMORE 8 (87037)
WHEREAS, a Site Plan for Quality Homes, Inc., for Sagamore 8 located at 4465
Trenton Lane was approved under City Council Resolution 87-390; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in
the form of a Letter of Credit in the amount of $45,707; and,
WHEREAS, the City Council under Resolution 88-700 authorized the reduction of
the Letter of Credit to $15,000; 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. 211 in the amount of $15,000, which was submitted to
guarantee site improvements for Quality Homes, Inc. for Sagamore 8 located at
4465 Trenton 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: Ma or Schneider, Councilmembers
Vasiliou, Ricker, Zitur and Sisk
The following voted against or abstained None
Whereupon the Resolution was declared duly passed and adopted.