HomeMy WebLinkAboutCity Council Resolution 1986-474CITY 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 August , 1986. The following members were present: Mayor 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. 86-474
REDUCING DEVELOPMENT BOND
PARK PLACE ADDITION (82049)
WHEREAS, in accordance with the development contract dated November 14, 1984, The
Tipton Corporation, the 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:
ITEM
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
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
TOTAL
ORIGINAL AMOUNT
NEN AMOUNT
Public
Private
Public
private
5189.09
-0-
$ -0-
-0-
45,740
22,000
-0-
-0-
64,790
51,590
-0-
-0-
24,980
67,060
-0-
-0-
-0-
21,706
-0-
-0-
-0-
-0-
-0-
-0-
300
-0-
-0-
-0-
3,000
-0-
-0-
-0-
-0-
199,500
-0-
-0-
39,386
43,423
-0-
-0-
$367,605
$405,279
$ -0-
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $42,896 to $0 (zero) to reflect the completed work on the public improvements,
and from $25,760 to $0 (zero) to reflect the completed work on the private improve-
ments.
Resolution No. 86- 474
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
$89,000 $65,000
FURTHER BE IT RESOLVED that the public street and concrete curb and gutter
construction is accepted for continual maintenance as of August 4, 1986, subject to
the one year guarantee by the developer.
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 Sisk,
Vasiliou, and Zitur
The following voted against or abstained: none
Whereupon the Resolution was declared dully passed and adopted.