HomeMy WebLinkAboutCity Council Resolution 1988-403CITY 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 11th day of July ,
1988. The following members were present: Mayor Schneider. Councilmembers Vasiliou ,
Ricker. Zitur and Sisk
The following members were absent:
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88- 403
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 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:
""I-]
Street Construction
Sanitary Sewer `'
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
(See Permit No. 12929)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 74,360
$ 34,360
46,969
-0-
44,515
-0-
7,741
-0-
7,000
7,000
-0-
-0-
150
150
-0-
-0-
-0-
21,688
-0-
4,981
$ 202,423 $ 46,491
That the letter of credit required for the above items be reduced as detailed above
from $91,292 to $46,491 to.reflect the completed work.
Resolution No, 88- 403
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
Councilmember Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider. Councilmembers Vasi_liou. Ricker, Zitur and Sisk ,
The following voted against or abstained: Nine
Whereupon the Resolution was declared duly passed and adopted.