HomeMy WebLinkAboutCity Council Resolution 1988-461CITY 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: Manor 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- 461
REDUCING DEVELOPMENT BOND
WOODDALE NORTH PLAT TWO ADDITION (85033)
WHEREAS, in accordance with the development contract dated May 15, 1985, Wooddale
Ventures and Lyman Lumber Company, developer of Wooddale North Plat Two (85033), 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= ORIGINAL
AMOUNT
NEW AMOUNT
Street Construction $
83,600
$ -0-
Sanitary Sewer
41,150
-0-
Watermain
47,800
-0-
Storm Sewer System
-0-
-0-
Boulevard and Drainage Swale Sod
7,400
-0-
Pond or Ditch Construction
-0-
-0-
Street Signs
450
-0-
Site Grading and Drainage Improvements
42,000
-0-
Park and Trail Improvements
-0-
-0-
Design, Administration, Inspection, As-Builts
26-fi @
_0_
TOTAL $
249,088
$ -0-
That the letter of credit required for the above items was previously reduced to $U
(zero) to reflect the completed work and returned to the developer.
Resolution No. 88- 461
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:
jTErJ ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion and
Sediment Control Plan,
Street Sweeping and Storm
Sewer Cleaning Cash: $ 1,000 $ -0-
Letter of Credit: $35,000 -0-
FURTHER BE IT RESOLVED that the $1,000 cash deposit per above requirement is hereby
released and returned to the developer.
The motion for the adoption of the foregoing Resolution was duly seconded b
P g g Y Y
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.