HomeMy WebLinkAboutCity Council Resolution 1987-411CITY 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 15th day
of June , 1987. The following members wereresent•
Mayor Schneider, Councilmembers Crain, Sisk, Zitur and Vasiliou
The following members were absent: none
Councilmember Sisk introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 87- 411
REDUCING DEVELOPMENT BOND
FOX RUN 3RD ADDITION (85077)
WHEREAS, in accordance with the development contract dated May 14, 1986,
Lundgren Brothers Construction, Inc., developer of Fox Run 3rd Addition (85077)
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
38,000
$38,000
32,000
6,400
17,000
3,400
33,000
6,600
2,600
2,600,
1,200
120
150
150
26,000
-0-
1,600
1,600
18,186
7,050
$ 169,736 $ 65,920
That the letter of credit required be reduced as detailed above from $169,736
to $65,920 to reflect the completed work.
Resolution No. 87- 411
Page Two
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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
$27,000 $13,500
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 Crain,
. Sisk, Zitur and Vasiliou
The following voted against or abstained: none
Whereupon the Resolution was declared duly passed and adopted.