HomeMy WebLinkAboutCity Council Resolution 1983-364Councilmember Threinen introduced the following Resolution and moved its
y a on:
RESOLUTION NO. 83- 364
REDUCING DEVELOPMENT BOND
MEDICINE LAKE ESTATES (A-723)
WHEREAS, in accordance 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, 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 HEREBY 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 $ 78,500 $ -0-
Sanitary Sewer 78,900 -0-
Watermain 41,600 -0-
Storm Sewer 25,000 -0-
Boulevard Sod 9,200 1,600
Pond or Ditch Construction -0- -0-
Street Signs 450 -0-
Street Sweeping and Storm Sewer Cleaning 2,500 1,500
Erosion Control 2,500 400
Site Grading 20,800 -0-
TOTAL $259,450 $3,500
That the letter of credit, which was previously reduced to $8,000, be further
reduced to $3,500 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
rOILILOwIng voted n favor reof:Mayor Davenport, Councilmember Moen, Neils,
Schneider and-Threinen
Ifte TollowIng voted agaInst or s ne-dz none
Whereupon
.
rdipa: the Resolution was declared d1* pas a a