HomeMy WebLinkAboutCity Council Resolution 1985-827CITY 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 7th day
of October , 1985. The following members were present: Mayor Davenport,
Counci members eils, Schneider, Crain and Vasiliou
The following members were absent: none
Councilmember Schneider introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 85- 827
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
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 Improvements
Site Grading 6 Drainage Impvmts.
Design, Administration,
Inspection, As-Builts
TOT.4L
ORIGINAL AMOUNT NEW AMOUNT
Public Private Public Private
$189,409
$ -0-
$ 38,000
-0-
45,740
22,000
-0-
-0-
64,790
51,590
-0-
-0-
24,980
67,060
-0-
-0-
-0-
21,706
-0-
17,000
-0-
-0-
-0-
-0-
300
-0-
300
-0-
3,000
-0-
-0-
-0-
-0-
199,500
-0-
6,000
39,386
43,423
4,596
2,760
$367,605 $405,279 $ 42,896 $ 25,760
That the letter of credit required for the above items be reduced as detailed
above from $131,688 to $42,896 to reflect the completed work on the public
improvements and from $46,783 to $25,760 to reflect the completed work on the
private improvements.
Resolution 85- 827
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
Ssediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$ 1,000 $ 1,000
$89,000 $71,200
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Crain , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Day.'nport. Councilmember5 Neils.
Schneider, Crain and Vasiliou
The following voted against or abstained: _ n
Whereupon the Resolution was declared duly passed and adopted.