HomeMy WebLinkAboutCity Council Resolution 1988-061CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a special meeting of the City Ct;ncil of
the City of Plymouth, Minnesota was held on the 25th day of January ,
1988. The following members were present: Mayor Schneider, Councilmembers Vasiliou,
Ricker. Zitur and Sisk
The following members were absent: None
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-61
REDUCING DEVELOPMENT BOND
PONDS NORTH ADDITION (87058)
WHEREAS, in accordance with the development contract dated November 24, 1987, Northwood
Hones, Inc., developer of Ponds North Addition (87058), 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:
1Z1 ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 82,698 $ 82,698
Sanitary Sewer 88,474 8,847
Watermain 49,708 4,971
Storm Sewer 28,285 2,823
Boulevard and Drainage Swale Sod 7,800 7,800
Pond or Ditch Construction -0- -0-
Street Signs 600 600
Site Grading and Drainage Improvements -0- -0-
(See Grading Permit #12674)
Park and Trail Improvements 10,160 10,160
Design, Administration, Inspection, As-Builts 32-127 14.148
TOTAL $ 299,852 $ 132,047
That the letter of credit required for the above items be reduced as detailed above
from $299,852 to $132,047 to reflect the completed work.
Resolution No. 88- 61
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the foilowing 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
Sever Cleaning * Cash:
Letter of Credit:
* Included in Grading Permit #12674
$-0- $-0-
$-0- $-0-
The notion for the adoption of the foregoing Resolution was duly seconded by
reasurilme her Ricker , and upon vote being taken thereon, the following voted
in favor thereof: Mayer Schneider- Councilmembers Vasiliou. Ricker. Zitur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.