HomeMy WebLinkAboutCity Council Resolution 1987-737CITY 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 2nd day of November
1987. The following members were present: Mayor Schneider, Councilmembers Vasiliou
Zitu_r, Crain and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87-737
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND ADDITION (87006)
WHEREAS, in accordance with the development contract dated July 29, 1987, Northland
Land Company, developer of Parkers Lake North 2nd Addition (87006), 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,
MINNESOTA; that the bonding requirements are reduced as follows:
Street Construction $ 254,340 $ 234,467
Sanitary Sewer 191,100 76,853
Watermain 116,182 80,678
Storm Sewer 174,882 160,741
Boulevard and Drainage Swale Soy' 15,400 15,400
Light Standards 37,500 37,500
Street Signs 450 450
Site Grading and Drainage Improvements 381,055 179,614
Landscape and Sidewalk 30,000 30,000
Design, Administration, inspection, As-Builts 146.109 97-AA4
TOTAL $ 1,345,018 $ 913,587
That the letter of credit required for the above items be reduced as detailed above
from $1,345,018 to $913,587 to reflect the completed work.
Resolution No. 87-737
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
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, CouncilMemhars Vaci1inner Zitijy. Crain :ind Sisk ,
The following voted against or abstained: Nnne
Whereupon the Resolution was declared duly passed and adopted.