HomeMy WebLinkAboutCity Council Resolution 1987-738CITY 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, Councilmemhers Vasiliou, Z:t.ur, Crain and Sisk
The following members were absent: Nnna-
rn1%xkrj1mPmhar Sisk introduced the following Resolution and moved
its adoption:
RESOLUTION N0. 87-738
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 3RD ADDITION (87036)
WHEREAS, in accordance with the development contract dated October 5, 1987,
Laukka-Williams Parkers Lake, A Minnesota General Partnership, developer of
Parkers Lake North 3rd Addition (87036), 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
$ 148,867
$ 83,900
118,274
41,337
106,377
37,628
45,931
3,815
20,600
20,600
-0-
-0-
1,050
1,050
-0-
-0-
-0-
-0-
52,932 22,600
$ 494,031 $ 210,930
That the letter of credit required be reduced from $494,031 to $210,930 to
reflect the completed work.
Resolution No. 87-738
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following
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: $ -0- $ -0-
Letter of Credit: -0- -0-
*See Parkers Lake North 2nd Addition for financial guarantee for this item.
The motion for the adoption of the foregoing Resolution was duly seconded by
CoLncilmember_Zitur , and upon vote being taken therion, the
following voted in favor thereof: Mayor Schneider, Councilmembers Vasiliou,
Zi_ur, Crain and Sisk _
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.
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