HomeMy WebLinkAboutCity Council Resolution 1986-773CITY 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 17th day
of November , 1986. The following members were present:
Mayor Schneider, Councilmembers Crain, Sisk. Vasiliou. and Zitur
The following members were absent: none
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 86-773
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
$354,213
$ -0-
$255,804
$ -0-
Sanitary Sewer
178,821
-0-
129,140
-0-
Watermain
159,511
-0-
115,195
-0-
Storm Sewer
90,362
-0-
65,258
-0-
Boulevard 6 Drainage
Swale Sod
-0-
16,000
-0-
16,000
Pond or Ditch Construction
-0-
-0-
-0-
-0-
Street Signs
-0-
1,050
-0-
1,050
Park and Trail Improvements
-0-
-0-
-0-
-0-
Site Grading b
Drainage Improvements
-0-
114,000
-0-
11,400
Design, Administration,
Inspection, As-Builts
-0-
15,726
-0-
3,414
TOTAL
$782,907
$146,776
$565,397
$31,864
That the letter of credit required for the above private items previously reduced
. as detailed above from $146,776 to $31,864 to reflect the completed work remain at
$31,864.
Resolution No. 86-773
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
ORIGINAL AMOUNT NEW AMOUNT
Cash: $ 1,000 $ 1,000
Letter of Credit: $66,600 $66,600
FURTHER BE IT RESOLVED that the lett,,r of credit required for public improvements
(Project 539) originally set at $469,744 per the development contract and reduced
to $339,238 when bid prices were determined and a contract awarded can now be
reduced to $77,978 to reflect credit for special assessments paid as lots have been
sold. Letter of Credit No. 85-86 is hereby reduced to $77,978.
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, COLncilmembers Crain, Sisk,__
Vasiliou, and Zitur
The following voted against or abstained: none
Whereupon the Resolution was declared dully passed and adopted.