HomeMy WebLinkAboutCity Council Resolution 1986-294CITY 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 Max , 1986. The following members were present:
The following members were absent: nnnp
Councilmembe Crain introduced the following Resolution and moved
its adoption: RESOLUTION NO. 86- 294
REDUCING DEVELOPMENT BOND
PARKERS LAKE FARM SECOND ADDITION (86013)
WHEREAS, in accordance with the development contract dated February 25, 1986,
amended April 7, 1986, Kenneth C. Peterson and Ilona J. Peterson, developer of
Parkers Lake Farm Second Addition (86013) 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 -
ITEM
ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 53,582 $ 45,064
Sanitary Sewer 21,591 2,159
Watermain 29,147 2,915
Storm Sewer 12,447 1,245
Boulevard and Drainage Swale Sod 3,400 3,400
Pond or Ditch Construction -0- -0-
Street Signs 150 150
Site Grading and Drainage Improvements -0- -0-
Park and Trail Improvements 1,111 1,111
Design, Administration, Inspection, As-Builts 14,571 6,725
TOTAL $135,999 $ 62,769
That the letter of credit required for the above items be reduced as
detailed above from $135,999 to $ 62,769 to reflect the completed work.
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 ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $ 1,000
Letter of Credit: $ 5,000 $ 5,000
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider, Councilmembers Crain,
Sisk, Vasiliou and Zitur
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.