HomeMy WebLinkAboutCity Council Resolution 1987-297CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a regular _ meeting of the Citv_
Council of the City of Plymouth, Minnesota was held on the 4th day
of May , 1987. The following members were present: —mayor Schneider,
ounce me ers Crain, Sisk, Vasiliou and Zitur
The following members were absent: none
Councilmember Crain introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87- 297
REDUCING DEVELOPMENT BOND
LAKE PARK HEIGHTS ADDITION (85089)
WHEREAS, in accordance with the development contract dated June 6, 1986, Graham
Development Company, developer of Lake Park Heights Addition (85089), 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 Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 59,100
$ 10,858
26,563
7,509
29,801
8,424
9,595
1,919
3,400
3,400
-0-
-0-
150
150
50,000
10,000
300
300
21.469
5,107
$200,378 $ 47,667
That the letter of credit required for the above items be reduced as detailed
above from $200,378 to $47,667 to reflect the completed work.
Resolution No. 86-297
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
$14,700 $14,700
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider, Councilmembers Crain,
Sisk, Vasiliou and Zitur
The following voted against or abstained: nM
Whereupon the resolution was declared duly passed and adopted.