HomeMy WebLinkAboutCity Council Resolution 1978-139CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth, Minnesota, was held on the 20th day
of March , 19 78 . The following me.nbers were present:
MaXor Hunt. Council mbers-Hayt- Neils and 1�papth
The fol acing members were absent: Councilmember Seibold
Councilmember Spaeth introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 78-139
REDUCING DEVELOPMENT BOND
MEDICINE LAKE ESTATES
A-723
WHEREAS, in -ordance with the Development Contract, dated September 19, 1977,
Richard M. Smith, developer of Medicine Lake Estates (A-723), has agreed to
install certain improvements for said development, and
WHEREAS, t.e Develop has completed a portion of the improvements as nnted below,
and
WHEREAS, the Developer has requested a reduction of the Development Bond to refiec'
the completed work.
NOW, THEREFORE, CE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the bonding requirements are reduced as follows:
ITEM
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard Sod
Ponds or Ditch Construction
Street Signs
Street Sweeping & Storm
Sewer Cleaning
Erosion Control
Site Grading
ORIGINAL AMOUNT NEW AMOUNT
$ 78,500.00
$78,500.00
78,900.00
0.00
41,600.00
4,000.00
25,000.00
0.00
9,200.00
9,200.00
0.00
0.00
450.00
450.00
2,500.00
.2,500.00
2,500.00
2,500.00
20,800.00
10,400.00
TOTALS: $259,450.00 $107,550.00
a 0
Resolution # 78-139
Page 2
That the Letter of Credit be reduced to $107,550.00 to reflect the completed work.
The motion for thettion of the foregoing Resolution was duly seconded
by Councilmemberls , and upon vote being taken thereon the
fol owing voted in favor thereof: Mayor Hunt, Councilmembers Hoyt, Neils
e o h
owing' vote against or abstained: one
Whereupon the Resolution was declared duly pass a pt
•ttw *t* aye*