HomeMy WebLinkAboutCity Council Resolution 1986-436CITY 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 list day
of July , 1986. The following members were present: Haar Srhnaidar_
Councilmembers Crain, Sisk. Vasiliou and Zitur
The following members were absent: _ none
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Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86- 436
REDUCING DEVELOPMENT BOND
CATES PLYMOUTH CREERSIDE ESTATES (85019)
WHEREAS, in accordance with the development contract
dated October
16, 1985,
Wallace H. Cates and Erica C. Cates, developer of Cates Plymouth Creekside
Estates
(85019), 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
$ 86,225
$ 12,710
Sanitary Sewer
37,884
3,788
Watermain
20,060
2,006
Storm Sewer
6,484
648
Boulevard Sod
4,800
4,800
Pond or Ditch Construction
-0-
-0-
Street Signs
300
300
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Design, Administration, Inspection, Aa-Builts
18,690
2,910
TOTAL
$174,443
$ 27,162
That the letter of credit required for the above items be reduced as detailed above
from $174,443 to $27,162 to reflect the completed work.
Resolution No. 86- 436
Page Tw.,
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
Sediment Control Plan,
Street Sweeping and Storm
Sewer ;,leaning Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$ 1,000 $ 1,000
$19,000 $19,000
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, Councilmembere Crain, Sisk.
Vasiliou, and Zitur
The following voted against or abstained: none
Whereupon the resolution was declared duly passed and adopted.