HomeMy WebLinkAboutCity Council Resolution 1981-016CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a re(jular meetinn of
the City Council of the City of Plymouth, M nnesota was a on the
4b_ Fith day of January , 1981 . The following members were
present:rt, Councilmembers Hoyt, Neils, Schneider and Threinen
The following members were absent: none
ilmember Hoyt introduced the following Resolution and
moved its adoption:
RESOLUTION NO. £1-16
REDUCING DEVELOPMENT BOND
FERNDALE NORTH 3RD ADDITION (A-615)
WHEREAS, in accordance with the Development Contract, dated March 27, 1978,
Lundgren Bros. Construction, Inc., developer of Ferndale North 3rd Addition (A-615),
agreed to install certain imorovenents for said developrent, 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
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard Sod
Pond or Ditch Construction
Street Signs
Street Sweeping b
Storm Sewer Cleaning
Erosion Control
Site Grading
TOTALS
ORIGINAL AMOUNT NE14 AMOUNT
$ 112,800
$ 500
95,000
-0-
68,000
-0-
35,000
-0-
11,000
7,500
3,000
-0-
1,050
-0-
0-
2,000
2,000
2,600
2,000
1,000
40,000
-0-
$ 369,850 $11,000
That the Letter of Credit, which was previously reduced to $15,000, be further
reduced to $11,000 to reflect the completed work.
The motion for the adoption of the foregoing Resolution was duly seconded by
CnuncilWCMber Neils , and upon vote being taken thereon, the
following voted in� avor ereo : _Mayor Davenport, Councilmembers Hct,
Neils- Schngider and Threinen
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.