HomeMy WebLinkAboutCity Council Resolution 1986-473CITY 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 4th day
of Auftust , 1986. The following members were present:a—yor Schneider,
Councilmembers Sisk Vasiliou, and Zitur
The following members were absent: Councilmember Crain
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86-473
REDUCING DEVELOPMENT BOND
SWAN LAKE ADDITION (85027)
WHEREAS, in accordance with the development contract dated September 17, 1985,
Gordon Johnson Company, the developer of Swan Lake Addition (85027), 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
Project 539 Private Project 539 Private
Street Construction
Sanitary Sewer
Watermain
Storm Sever
Boulevard b Drainage
Swale Sod
Pond or Ditch Construction
Street Signs
Park and Trail Improvements
Site Grading b Drainage Improvements
Design, Administration,
Inspection, As-Builts
ORIGINAL TOTAL
$354,213
-0-
$255,804
-0-
178,821
-0-
129,140
-0-
159,511
-0-
115,195
-0-
90,362
-0-
65,258
-0-
-0-
16,000
-0-
16,000
-0-
-0-
-0-
-0-
-0--
1,050
-0-
1,050
-0-
-0-
-0-
-0-
-0-
114,000
-0-
11,400
-0-
15,726
-0-
3,414
$782,907
$146,776
$565,397
$31,864
That the letter of credit required for the above private items be reduced as
detailed above from $146,776 to $31,864 to reflect the completed work.
Resolution No. 86-473
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
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$ 1,000 $ 1,000
$66,600 $66,600
FURTHER BE IT RESOLVED that the letter of credit required for public improvements
(Project 539) originally set at $469,744 per the development contract can be
reduced to $339,238 now that bid prices have been determined and a contract has
been awarded.
BE IT FURTHER RESOLVED that the condition 14.17 of the Development Contract dated
September 17, 1986:
"No building permit shall be issued for Lots 10 and 11, Block 3, until
the temporary sedimentation pond is no longer necessary for erosion
control"
can be removed because the pond is a "permanent" pond.
The motion for the adoption of the foregoing Resolution was duly seconded by
Couucilmenber Zitur , and upon vote being taken thereon, the
following voted is favor thereof: Mayor Schneider, Councilmembers Sisk,
Vasiliou, and Zitur
The following voted against or abstained: none
Whereupon the Resolution was declared dully passed and adopted. '—