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PL"OU 11,, riN tl()� 1, Tiz <br />C I TY CJT MOVINIV: V I IF W <br />0iONTY Of kAMSlY <br />!3',A1[ Of MINNLSWA <br />AUT14OR I ATION FIIP.T!iFR Rrpucr 1 1 TTFR OF rPFD1 T <br />AMOUNT REQUIRB, 0R VVELOPMENT AGRrFMFNT 1`40. 18 -?9 <br />WHEAEAS, the lVvelo-per of Mounds 'V)ew Industrial Part, #-'A wa,- <br />required oy Development Agrefxi�evt No. 78-79 to ortividg a Ietter of credit <br />in th& ambunt of $150,000.00; and <br />WHEREW the letter of credit is to assure th@ developmr-nt is in <br />G�Cordd'lcv with tile requirmilenb of Devejuixtient Aweomwnt No. 79�29; and <br />WHEREAS, R#fiolution No. 1061 reduced the original letter of credit <br />w i10_v'wUU'UU to �'evyjbu.uvj Ono <br />WHEREAS, s0ce the adoption of R*solotion No. 1061, an additional <br />Wtion of this rittivirenents of Uvelopment Agreement No. 79-29 4ve been <br />com.plettill and <br />WHEREAS, additional corrective measures need to be made in the <br />ownt_0 _S915M.00, wh <br />ith includ n <br />in additional 2% retention pursuant to <br />MN- _TK <br />WUL--U-IT-AMUfA)-thtk-t--thg-V-ty-Co"I _o"#_CJU_ <br />"s Viv� &uthorises the further reduction of the letter of credit <br />1M.-MM.40- to -4 <br />Z <br />t ty"Irum in- '60400 will <br />ir&C ur -until - the impIttion- and -fins approval of the Devf mm - A <br />t .1rae <br />ts. <br />ATTM <br />for f- ke <br />WY _*v <br />