HomeMy WebLinkAboutCity Council Resolution 1987-519CITY 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 3rd day
of August , 1987. The following members were present:
Mayor Schneider, Councilmembers Crain, Vasiliou, Zitur and Sisk
The following members were absent: None
Councilmember Zitur introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 87- 519
REDUCING DEVELOPMENT BOND
HERITAGE WEST 2ND ADDITION (86048)
WHEREAS, in accordance with the development contract dated April 6, 1987,
Heritage West, Inc., Builders Finance, Inc., developer of Heritage West 2nd
Addition (86048) , 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 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
ORIGINAL AMOUNT NEW AMOUNT
$ 54,000 $ 10,800
43,000
8,600
39,000
7,800
41,000
8,200
4,000
4,000
-0-
-0-
300
300
10,000
1,000
-0-
-0-
22,956
4,884
$ 214,256 $ 45,584
That the letter of credit required for the above items be reduced as detailed
above from $95,088 to $45,584 to reflect the completed work.
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,
Vasiliou. Zitur and Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.