HomeMy WebLinkAbout90-145 - ADMIN Resolution - City Council - 1990/10/01RESOLUTION NO. 90-145
RESOLUTION REDUCING LETTER OF CREDIT
FOR KNOLLWOOD GREEN SUBDIVISION IMPROVEMENTS
WHEREAS, pursuant to a written contract dated May 11, 1990, Contract No.
1963, the J. M. S. Development Corporation has completed all required public
improvements for the Knollwood Green Subdivision with the exception of
boulevard sod and street trees, and
WHEREAS, said improvements have been inspected by the City and are in
compliance with applicable codes and specifications, and
WHEREAS, the developer, J. M. S. Development Corporation, has requested
a reduction in its letter of credit from $60,000 to $5,000 to more accurately
reflect the cost of the remaining improvements.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of St.
Louis Park that the Letter of Credit No. 90-9 in the amount of $60,000 with
Americana Bank, dated June 20, 1990, for Knollwood Green Subdivision
improvements is hereby reduced to $5,000.
Attest:
y Cle
Adopted by the City Council October 1, 1990
Reviewed for administration:
E- 40
May
W
Approved as to form and execution:
City Manager Cit Attorney