HomeMy WebLinkAboutCity Council Resolution 1994-838CITY OF PLYMOUTH
)RBSOLZTIION 94 - 838
AUTHORIZWO REDUCTTON OF STIR PERFORMANCE GUARANTEE FOR
BAL DOR ELBCTItlC COMPANY. FOR PROPERTY LOCATED AT 129SS STA72
HIGHWAY NO. SS. (94024)
WHEREAS, a Silo Plan fbr Bablor Electric Company was approved by Admidgrative
Approval Leder Dated May 05, 1994; and,
WHB BAS. the developer wbmitted the eepind Site Performaooe Guannsee is the
form of a Later of Credit to the amount of $37,700.00; and,
WHBREAS, the City Council, under resolution 94-473, authorized the reduction of the
Lever of Credit to $2,300.00.; and,
WiIBRBAS, upon nodoe from the developer, City staff has inspected said dte and
recommends reduction of the fhWWW guarafee;
NOW, THEREFORB, BE TT HBR Y RESOLVED BY THE CITY COUNCIL OF
THE CITY OF PLYMOUTH, Id11'TNESOTA, that Et should and hereby does authorize
a $2,125.00 reduction of the Letter of Credit which was submitted to guatuKee site
improvaneob for Baldor Electric Company to a new total guarantee of $373.00.
Adopted by the City Council on December 19, 1994
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