HomeMy WebLinkAboutCity Council Resolution 1987-735`` CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a retrular meeting of the City
Council of the City of Plymouth, Minnesota was held on the 2nd day
of November , 1987. The following members were present:
MAvor Schneider, Councilmembers Vasiliou. Zitur. Crain and Sisk
The following members were absent: None
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Coin it mh.r Sick introduced the following Resolution and moved
its adoption:
RESOLUTION NO. 87-735
REDUCING DEVELOPMENT BOND
PARKSIDE AT MEDICINE LAKE (A-338)
WHEREAS, in accordance with the development contract dated August 21, 1985,
Parkside at Medicine Lake Partnership, developer of Parkside at Medicine Lake
(A-338), 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 $ 10,000 $ 1,000
Saaitary Sewer -0- -0-
Watermain 5,000 500
Storm Sewer 6,000 600
Boulevard and Drainage Swale Sod 2,880 880
Pond or Ditch Construction -0- -0-
Street Signs 150 150
Site Grading and Drainage Improvements 11,000 2,200
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 4,204 640
TOTAL $ 39,234 $ 5,970
That the letter of credit required be reduced from $19,522 to $5,970 to reflect
the completed work.
Resolution No. 87-735
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
$ 2,000 $ 2,000
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 Vasitiou.
Zitur. Crain and Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.