HomeMy WebLinkAboutCity Council Resolution 1987-569CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a special meeting of the City
Council of the City of Plymouth, Minnesota was held on the 14th day
Of— September , 1987. The following members were present: Mayor Schneider,
Councilmembers Vasiliou, Zitur Crain and Sisk
The following members were absent: None
Counci7ne h_r Zi ,r introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 87- 569
REDUCING DEVELOPMENT BOND
STEEPLECHASE 3RD ADDITION (87019)
WHEREAS, in accordance with the development contract dated April 6, 1987,
Lundgren Brothers Construction, Inc., developer of Steeplechase 3rd Addition
(87019), 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
$ 100,000 $ 50,000
73,400
7,340
70,000
7,000
21,200
2,120
6,200
6,200
-0-
-0-
450
450
176,200
17,620
7,400
7,400
54,582
11,776
$ 509,432 $ 109,906
That the letter of credit required for the above items be reduced as detailed
above from $509,432 to $109,906 to reflect the completed work.
Resolution No. 87- 569
Page Two
10 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 ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $11000 $1,000
Letter of Credit: $49,000 $49,000
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Vasiliou , and upon vote being taken thereon, the
following voted in favor thereof: Mayor Schneider, Councilmembers Vasiliou
Zitur. Crain and Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.