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HomeMy WebLinkAboutCity Council Resolution 1988-491CITY 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 15th day of August , 1988. The following members were present: Mayor Schneider, Councilmembers Vas'liou , Ricker, Zitur and Sisk The following members were absent: None Souncilmember Sisk introduced the following Resolution and moved its adoption: RESOLUTION NO. 88- 491 REDUCING DEVELOPMENT BOND LAKE CAMELOT ESTATES ADDITION (85114) WHEREAS, in accordance with the development contract dated October 27, 1986, Keith T. Harstad and Diane N. Harstad, developer of Lake Camelot Estates Addition (75114), has agreed to install certain improvements for said development; and WHEREAS, the developer has completed a p, -tion 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 (See Grading Permit No. 5498) Street Signs Site Grading and Drainage Improvements (See Grading Permit No. 5498) Park and Trail Improvements (Private) Trail Apparatus Landscaping Design, Administration, Inspection, As-Builts TOTAL $ 524,900 $ 62,951 484,551 4,846 416,947 4,170 244,490 2,445 37,800 34,000 -0- -0- 2,550 2,550 -0- -0- 30,000 4,740 30,000 22,545 20,000 214.948 7,302 17.466 $ 2,006,186 $ 163,015 That the letter of credit required for the above items be reduced as detailed above from $331,408 to $163,015 to reflect the completed work. Resolution No. 88-491 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- * See Grading Permit No. 5498 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.