HomeMy WebLinkAboutCity Council Resolution 1993-595CITY OF PLYMOUTH
RESOLUTION 93 - s9s
AUTHORIZING REDUCTION OF SITE PERFORMANCE GUARANTEE FOR
NORTHERN STATES POWER FOR PROPERTY LOCATED NORTH OF MEDINA
ROAD ON EAST SIDE OF COUNTY ROAD 101, SOUTH OF HIGHWAY 55
(92051)
WHEREAS, a Site Plan for Northern States Power was approved under City Council
Resolution 92-444; and,
WHEREAS, the developer submitted the required Site Performance Guarantee in the
form of a L.C. in the amount of $251,000; and,
WHEREAS, upon notice from the developer, City staff has inspected said site and
recommends a 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 #74683, which was submitted to guarantee site
improvements for Northern States Power to a new total guarantee of $2,500.
Adopted by the City Council on October 4, 1993.