HomeMy WebLinkAbout2002-046 CCRMember Ed Nelson introduced the following resolution and moved its
adoption:
RESOLUTION NO. 2002-46
RESOLUTION AUTHORIZING SURETY REDUCTION FOR SUNLITE
PROPERTIES
WHEREAS, the developer of Sunlite Properties submitted a Letter of Credit as
security for the public improvements; and
WHEREAS, the improvements have been completed and the security can be
reduced.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Brooklyn Center, Minnesota that:
1. Riverside Bank is authorized to reduce the Letter of Credit Number #5008 in the
amount of $2,500.00 leaving a zero balance.
1
2. Riverside Bank is authorized to reduce the Letter of Credit Number #5007 in the
amount of $5000.00 leaving a zero balance.
April 8, 2002
Date
4 Mayor
ATTEST: J- VMYL
City Clerk
The motion for the adoption of the foregoing resolution was duly seconded by member
Kay Tasman
and upon vote being taken thereon, the following voted in favor thereof:
Myrna Kragness, Kay Lasman, Ed Nelson, Bob Peppe, and Tim Ricker;
and the following voted against the same: none;
whereupon said resolution was declared duly passed and adopted.