HomeMy WebLinkAboutCity Council Resolution 1994-49971
CITY OF PLYMOUTH
RUOLUMN 94 - 499
AUTHOIR rT0 RELEASE OF SrM PPBPORMANCE OUARANT88 FOR OOFP
HODS. FOR PROPERTY LOCATE) AT 4478 AVMM NORM AND
PERNBRtOOK LANE. OIMSB 1H) (WA9)
W OREM, a Me Plan for Panbrooi< Now was approved by City OmmW resolution
88-383; 84
WKMtBMl do developer submitted the m*dnd Sib Performance fiwnotee in the
lbrm of Cmb in the amount of $34,000.00; and,
WMMUSAS, the City Council, under Rasdudon 91-7391 authorized the reduction of
the Leger of Credit to $21,028.00; end,
Wi>BRBAS, upon notice from the devalopero City staff bu iaepected aid do and
recommends ralase of the mmncw guarantee;
NOW v 7i MEROR8, BE 1T HEREBY RESOLVED BY 788 CITY COUNCIL OF
mm cm OF PLYAtOU" q, haNNESOTA, that it should and hereby dna authorise
the calease of the Letter of Credit in the amount of $21,028.00, which was submitted to
guarantee rte improvements for Rocky Point Partnership.
Adopted by the City Council on August 29, 1994
(rascal)