HomeMy WebLinkAboutCity Council Resolution 1988-292CITY 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 16th day of May
1988. The following members were present: Mayor Schneider, Councilmembers Vasiliou
Ricker Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-292
REDUCING DEVELOPMENT BOND
THE MEADOWS OF BASS LAKE ADDITION (87059)
WHEREAS, in accordance with the development contract dated February 17, 1988, Mien Fa
Tchou, Craig E. Scherber and Wendy J. Scherber, developer of The Meadows of Bass Lake
Addition (87059), 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
StrecL Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 44,040
$ 44,040
64,031
12,649
28,506
2,851
31,649
3,165
5,800
5,800
-0-
-0-
450
450
86,720
51,095
-0-
31,343
-0-
14.406
$ 292,539
$ 134,456
That the letter of credit required for the above items be reduced as detailed above
from $292,539 to $134,456 to reflect the completed work.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilm Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider__Councilmembers Vasiliou,, Ricker, Zitur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.
Resolution No. 88- 292
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
s
Letter of -Credit:
$33,000 $33,000
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilm Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider__Councilmembers Vasiliou,, Ricker, Zitur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.