HomeMy WebLinkAboutCity Council Resolution 1988-027CITY 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 4th day of January
Co
1988. The following members were present: -Mayor Schneider, uncilmem ers asi iou
Ricker.. Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88- 27
REDUCING DEVELOPMENT BOND
PLYMOUTH PONDS ADDITION (86050)
WHEREAS, in accordance with the development contract dated May 29, 1986, Westglen
Developers, Inc. and Intra Financial Corporation, developer of Plymouth Ponds Addition
(86050), 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
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGIN I. AMOUNT
$ 44,100
NEW AMOUNT
$ -0-
22,100
700
33,500
*1,800
33,900
*1,900
9,800
-0-
-0-
-0-
300
-0-
40,000
-0-
14,300
1,430
$ 221,760 $ 6,530
* Items remaining to be completed per Punch List #7214 from McCombs Frank Roos
Associates, Inc.
That the letter of credit required for the above items be reduced as detailed above
from $221,760 to $6,530 to reflect the completed work.
Resolution No. 88-27
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 ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Flan
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $1,000
Letter of Credit: $28,700 $5,740 r
FURTHER BE IT RESOLVED that the sanitary sewer and watermain construction is accepted
for continual maintenance as of January 4, 1988, subject to the One Year Guarantee by
the Developer.
a
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 Vas4liou- Ricker Zitur and Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.
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