HomeMy WebLinkAboutCity Council Resolution 1988-112CITY 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 the 8th day of February
1988 The following members were present: Mayor Schneider, Councilmembers Vasiliou ,
Rirkpr- 7itur anti Sisk
The following members were absent: None
Councilmemher Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88- 112
REDUCING DEVELOPMENT BOND
COTTONWOOD PLAZA ADDITION (86085)
WHEREAS, in accordance with the development contract dated, January 7, 1987, Jer3me 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;
0 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
ORIGINAL AMOUN
NEW AMOUNT
$59,500
$ -0-
51,700
5,170
25,700
2,570
75,800
7,580
12,507
1,250
5,000
5,000
150
150
84,600
8,460
-0-
37,195
-0-
3-622
$ 352,152 $ 33,802
That the letter of credit required for the above items be reduced as detailed above
from $69,742 to $33,802 to reflect the completed work.
S e
�1 Resolution No. 88-112
'Pate -Two
Y 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:
j 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: $�QQ $18.200
FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer construction
is accepted as of February 8, 1988 for continual maintenance subject to the one year
guarantee by the developer.
FURTHER BE IT RESOLVED that pursuant to the developer's request a 10% retainer will be
held in the required development bond for the sanitary sewer, watermain and storm sewer
construction in lieu of the required maintenance bond.
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted as of February 8, 1988 for continual maintenance subject to the one year
guarantee by the developer. The required maintenance bond has been submitted for the
street and concrete curb and gutter construction.
The motic.n for the adoption of the foregoing Resolution was duly seconded by
CnnnrilmenhPT Sisk , and upon vote being taken thereon, the following voted
in favor thereof: M, ^a SrhnPidn-r. rm mr.i4memh rs Vasi1ion, Ricker- Zitur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted. .