HomeMy WebLinkAboutCity Council Resolution 1988-101CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a special meeting of the City Council of
the City of Plymouth, Minnesota was held on tLe 8th day of February
1988. The following members were present: Mayor Schneider. Councilmembers Vasiliou
Ri rknrl Zi tier and Sisk
The following members were absent: Nnne
colAnailmpmher 'zittlr introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-101
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND ADDITION (87006)
WHEREAS, in accordance with the development contract dated July' 29, 1987 Northland Land
Company, developer of Parkers Lake North 2nd Addition (87006), 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 requiremdnts are reduced as follows: .
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Light Standards
Street Signs
Site Grading and Drainage Improvements
Landscape and Sidewalk
Design, Administration, Inspection, As-Builts
TOTAL
$ 254,340
191,100
116,182
174,882
15,400
37,500
450
381,055
30,000
144.109
$ 1,345,018
$ 217,032
19,110
8,068
103,882
15,400
-0-
450
91,175
26,750
57,824
$ 539,691
That the letter of credit required for the above items be reduced as detailed above
from $913,587 to $539,691 to reflect the completed work.
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Resolution No. 88-101
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:
ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm.
Sewer Cleaning Cash: $1.000 $1.000
Letter of Credit: $163,860 $ Q
V
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk , and upon vote being taken thereon the following voted
in favor thereof: Mayor Schneider, Councilmembers Vasiliou, kicker, Zitur and
Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.