HomeMy WebLinkAboutCity Council Resolution 1988-168CITY 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 March ,
1988. The following members were present: MaMr, Schneider, Councilmembers Vasiliou ,
ki rknr, 7.i trnr and Sisk
The following members were absent: None
a n-ilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88- 168
REDUCING DEVELOPMENT BOND
KINGS NORTH ADDITION (86068)
WHEREAS, in accordance with the development contract dated February 5, 1987, Kings
North Corporation, developer of Kings North Addition (86068), has agreed to install
certain improvements for paid 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
$ 91,019
$ 20,000
73,168
-0-
67,407
-0-
48,796
-0-
8,400
8,400
-0-
-0-
750
-0-
97,046
-0-
-0-
46-390
-0-
3-408
$ 432,976
$ 31,808
That the letter of credit required for the above items be reduced as detailed above
from $49,662 to $31,808 to reflect the completed work.
solution No. 88-168.
gee Two
HER BE IT RESOLVED that the bonding requirements for the following items per
ion 8.1 of the approved development contract be reduced as follows:
I=
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
$1= $1.=
$32."D $16.130
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 Vasiliou. Ricker. Zitur and Sisk
V.The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.
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