HomeMy WebLinkAboutCity Council Resolution 1988-329CITY 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 6th day of June
.1988. The following members were present: Deputy Mayor Sisk, Councilmembers Vasiliou ,
Ricker and Zitur
The following members were absent: Mayor Schnedier
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-329
REDUCING DEVELOPMENT BOND
QUAIL RIDGE OF PLYMOUTH 3RD ADDITION (87133)
WHEREAS, in accordance with the development contract dated May 16, 1988, Cenvesco,
Inc., developer of Quail Ridge of Plymouth 3rd Addition (87133), has agreed to install
certain improvements L'ur said development; and
WHEREAS, the developrr 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 (:onstruction
Street Signs
Site Grading and Drainage Improvements
(See Permit No. 12929)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 74,360
$ 74,360
46,969
4,697
44,515
4,452
7,741
774
7,000
7,000
-0-
-0-
150
150
-0-
-0-
-0-
21-688
-0-
10.972
$ 202,423 $ 102,405
That the letter of credit required for the above items be reduced as detailed above
from $202,423 to $102,405 to reflect the completed work.
Resolution No. 88- 329
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:
ITEM ORIGINAL AMOUNT NEW AMOUNT
Maintenance,of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning * Cash: $-0- $-0-
Letter of Credit: $-0- $-0-
The Required Financial Guarantee for these items is included in grading
Permit No. 12929.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmem:er Ricker , and upon vote being taken thereon, the following voted
in favor thereof: Deputy Mayor Sisk, Councilmembers Vasiliou, Ricker and Zitur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.