HomeMy WebLinkAboutCity Council Resolution 1989-756CITY 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 20th day of November ,
1989. The following members were present: Mayor Schneider, Councilmembers ,
VasilinL_ Ricker_ Zitur and Sisk
The following members were absent: None
Cnuneilmemh-r Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 89-756
REDUCING DEVELOPMENT BOND
LORELI'S ADDITION (84084)
WHEREAS, in accordance with the development contract dated June 3, 1985, Dennis J.
Anderson and Elizabeth Anderson, developer of Loreli's Addition (84084), has agreed to
install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading
as noted below; and
WHEREAS, in accordance with City ordinances the developer provided Letter of Credit No.
579 to guarantee the payment of the first four years of special assessments for utility
construction; and
WHEREAS, the developer has paid the first four years of special assessments for this
levies; and
WHEREAS, the developer has requested a reduction of the development bond to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA; that the bonding requirements are reduced as follows:
ITEM ORIGINAL AMOUNT NEW AMOUNT
Four year payment guarantee for $ 25,057.00
$ -0- (zero)
special assessments for utility
construction per Levy No. 10052
NOW, THEREFORE, BE IT FURTHER RESOLVED that Letter of Credit No. 579 in the amount of
$25,057.00 is hereby reduced to $0 (zero) and released.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , 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.