HomeMy WebLinkAboutCity Council Resolution 1987-296CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the Ci .v of Plymouth, Minnesota was held on the 4th day
of May , 1987. The foL—viing members were presentor Schneider,
ounce mem ers Crain, Sisk, Vasiliou and Zitur
The following members were absent: none
*** * ***
Councilmember Crain introduced the following Resolution and moved its
adoption:
RESOLUTION N0. 87- 296
REDUCING DEVELOPMENT BOND
FOX RUN 2ND ADDITION (85066)
WHEREAS, in accordance with the development contract dated August 6, 1985,
Lundgren Brothers Construction, Inc., developer of Fox Run 2nd Addition (85066),
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
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Core*_.ruction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 57,000
$ 12,000
32,000
-0-
30,000
-0-
27,000
-0-
3,600
3,600
-0-
-0-
150
150
40,000
-0-
-0-
-0-
22,770
1,890
$212,520 $ 17,640
That the letter of credit required for the above items be reduced as detailed
above from $212,520 to $179640 to reflect the completed work.
Resolution No. 86- 296
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
$17,560 $ 3,512
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk , and upon vote being taken thereon, the
followinR 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.