HomeMy WebLinkAboutCity Council Resolution 1988-660CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a reeular meeting of the City Council of
the City of Plymouth, Minnesota was held on the 3rd day of nrtoher ,
1988. The following members were present: Mayor Re hn {d r- ,
Councilmembers Vasiliou. Ricker. 2itur and siak
The following members were absent: Nnnp
Counciimemher Sick introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-660
REDUCING DEVELOPMENT BOND
PLYMOUTH OFFICE COMMERCIAL PARK ADDITION (79025)
WHEREAS, in accordance with the revised development contract dated February 12, 1988,
Field Financial Corporation, Hew Lynn, and Hegerman Distributors, developer of Plymouth
Office Commercial Park (79025), 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:
Street Construction (except Annapolis Circle) $
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
184,935
$ 59,990
3,777
-0-
6,585
-0-
7,156
-0-
5,500
5,500
3,000
3,000
450
450
7,000
1,000
7,468
27.105
7,468
9,278
$ 252,976 $ 86,686
That the letter of credit required for the above items be reduced as detailed above
from $252,976 to $86,686 to reflect the completed work.
Resolution No. 88-660
Page Two
0 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:
lid 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: $1,500 $1,500
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer, street
construction and concrete curb and gutter (Berkshire Lane only) is accepted for
continual maintenance as of October 3, 1988 subject to the One Year Guarantee by the
Developer.
The motion for the adoption of the foregoing Resolution was duly seconded by
Cn..ncil— r 21rur and upon vote being taken thereon, the following voted
in favor thereof: mayor S hnaid r_ C'manylImpmhara Vaai1inu—R1rlrarF Zit -..r and Ciao
The following voted against or abstained: Nnnp
Whereupon the Resolution was declared duly passed and adopted.