HomeMy WebLinkAboutCity Council Resolution 1987-800CITY 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 7th day of December ,
1987. The following members were prert,nt: Mayor Schneider. Councilm mbers Vasilioi ,
Zitur. Crain and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 87- 800
REDUCING DEVELOPMENT BOND
COTTONWOOD PLAZA ADDITION (86085)
WHEREAS, in accordance with the development contract dated, January 7, 1987, Jerome P.
Begin and Betty A. Begin, developer of Cottonwood Plaza Addition (86085), 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:
0
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 Improvement■
Design, Administration, Inspection, As-Builts
TOTAL
$59,500
$ 5,950
51,700
5,170
25,700
2,570
75,800
7,580
12,507
1,250
5,000
5,000
150
150
84,600
34,600
-0-
37-195
-0-
7.472
$ 352,152 $ 69,742
That the letter of credit required for the above items be reduced as detailed above
from $352,152 to $69,742 to reflect the completed work.
Resolution No. 87- 800
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 a3 follows:
fkti1
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1.000 $1.000
$18.200 $18.200
The notion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur and upon vote being talon thereon, the f llow v ted
in favor thereof: Mayor Schneider, Councilmembers Vasiliou, Zitur, Cra�n an�isC
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.
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