HomeMy WebLinkAboutCity Council Resolution 1987-739CITY 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 Novemhnr ,
1987. The following members were present: Mayor Schneider, Councilmemhers VnajjipU ,
Zitur, Crain and Sisk
The following members were absent: Nnne
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87-739
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 4TH ADDITION (87084)
WHEREAS, in accordance with the development contract dated October 5, 1987, Laukka-
Williams Parkers Lake, A Minnesota General Partnership, developer of Parkers Lake North
4th Addition (87084), 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
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod (Covered
under Site Plan)
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 16,075
$ 16,075
19,282
1,928
7,293
729
7,418
742
-0-
-0-
-0-
-0-
150
150
-0-
-0-
-0-
6,026
-0-
2,355
$ 56,244 $ 21,979
That the letter of credit required for the above items be reduced as detailed above
from $56,244 to $21,979 to reflect the completed work.
Resolution No. 87- 739
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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Parkers Lake North
2nd Addition for Financial Guarantee
for this item) 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 followinS voted
in favor thereof: Maycir Schneider, Councilmembers Vasiliou, Zitur, Crain and Sisk
The following voted against or abstained: _Aisne
Whereupon the Resolution was declared duly passed and adopted.