HomeMy WebLinkAboutCity Council Resolution 1985-618CITY 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 19th day
of August , 1985. The following members were present: Mayor Davenport,
,Councilmembers Schneider, Crain and Vasiliou
The following members were absent: Council member Neils
Councilmember Schneider introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 85-618
REDUCING DEVELOPMENT BOND
PARK PLACE ADDITION (82049)
WHEREAS, in accordance with the development contract dated November 14, 1984
The Tipton Corporation, developer of Park Place Addition (82049), 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
10 PLYMOUTH that the bonding requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard b Drainage
Swale Sod
Pond or Ditch Construction
Street Signs
Park b Trail Improvemeats
Site Grading b Drainage Impvmts.
Design, Administration,
Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
NEW AMOUNT
Public
Private
Public Private
$189,409
$ -0-
$115,500
-0-
45,740
22,000
•-0-
2,200
64,790
51,590
-0-
5,159
24,980
67,060
-0-
6,706
-0-
21,706
-0-
21,706
-0-
-0-
-0-
-0-
300
-0-
300
-0-
3,000
-0-
300
-0-
-0-
199,500
-0-
6,000
391386
43,423
15,580
5.012
$367,605
$405,279
$131.686
6 46,783
That the letter of credit required for the above items be reduced aa detailed
above from $367,605 to $131,688 to reflect the completed work an the public
improvements and from $405,279 to $46,783 to reflect the aamp1eta4 work on the
private improvements.
Resolution 85-618
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items
per Section 8.1 of the approved development contract be reduced as follows:
ITEM
Maintenance of Erosion and
Seediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$ 1,000 $ 1,000
$89,000 $89,000
FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer
construction of all public improvements (per approved plans and specifications)
is accepted for continual maintenance as of August 19, 1985 subject to the one
year guarantee by the developer.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Vasiliou , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Davenport, Councilmembers Schneider,
Crain and Vasiliou
The following voted against or abstained: none
Vktreupon the Resolution was declarfl*duly passed and adopted.