HomeMy WebLinkAboutCity Council Resolution 1979-629Councilmember Spaeth introduced the following Resolution and
move its adoption:
RESOLUTION NO. 79-629
REDUCING DEVELOPMENT BOND
CIMARRON EAST (A-295)
WHEREAS, in accordance with the Development Contract, dated April 28, 1978,
Cheyenne Lane Company, Developer of Cimarron East (A-295), has
agreed to install certain improvements for said development, and
WHEREAS, the Developer has completed a portion of the street, utility and site
grading as noted below, and
WHEREAS, the Developer has requested a reduction of the Development Bond to
reflect the completed work,
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the bonding requirements are reduced as follows:
ITEM
ORIGINAL AMOUNT
NEW AMOUNT
Street Construction
$ 84,300
$ 16,860
Sanitary Sewer
142,200
0
Watermain
109,800
0
Storm Sewer
34,200
0
Boulevard Sod
6,200
4,340
Pond or Ditch Construction
0
0
Street Signs
1,350
600
Street Sweeping &
Storm Sewer Cleaning
2,000
2,000
Erosion Control
2,000
2,000
Site Grading
25,000
2,500
Private Street Construction
136,n00
47,600
Landscaping
20,000
10,000
Pool
15,000
1,500
TOTALS
$578,050
$87,400
That the Letter of Credit, which was previously reduced to $138,903 be further
reduced to $87,400 to reflect the completed work.
The motion for the adoption of the foregoing Resolution was duly seconded by
and upon vote being taken thereon, the
following vote to favor thereof: Mayor Hunt, rmincilmemhPry. natipnn r+_
Hoyt and Spaeth
rho 0 ow ng voted anainst or a sta ne
Whereupon the Resole
on was declared duly passed and a opte .