HomeMy WebLinkAboutCity Council Resolution 1996-711CITY OF PLYMOUTH
RESOLUTION NO. 96- 711
APPROVING THE RELEASE OF SECURITY AGREEMENT AND cONVEyING
PROPERTY TO THRALL DISTRIBUTION, INC.
WHEREAS, the City of Plymouth received title to Apollo Piping Supply Inc. property as
security for the issuance of $1,410,000 Industrial Development Revenue Bonds; and
WHEREAS, Apollo Piping Supply Inc. has been purchased by Thra:%1 Distribution Inc., and
WHEREAS, the entire $1,410,000 issue of Industrial Development Revenue Bonds has been
paid, and the City of Plymou.h no longer requires any security agreement for the issuance of
these Industrial Development Revenue Bonds.
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE
CITY OF PLYMOUTH, MINMOTA, that the mayor and city manager are authorized to
sign the necessary documents conveying the property as referenced in the attached Quit Claim
Deed to Thrall Distribution Incorporated.
Adopted by the City Council on December 18, 1996.