HomeMy WebLinkAboutCity Council Resolution 1988-460CITY 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 1st day of August
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. 88-460
REDUCING DEVELOPMENT BOND
CATES PLYMOUTH CREEKSIDE ESTATES (85019)
WHEREAS, in accordance with the development contract dated October 16, 1985, developer
of Wallace H. Cates and Erica C. Cates, developer of Cates Plymouth Creekside Estates
(85019), 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,
10 MINNESOTA; that the bonding requirements are reduced as follows:
FGA
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
$ 86,225
$ 8,623
37,884
3,788
20,060
2,006
6,484
648
4,800
3,800
-0-
-0-
300
300
-0-
-0-
-0-
18.690
-0-
2.300
$ 174,443
$ 21,465
That the letter of credit required for the above items be reduced as detailed above
from $27,162 to $21,465 to reflect the completed work.
Resolution No. 88-460
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: $1,000 $1,000
Letter of Credit: $19,000 $9,500
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 ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.