HomeMy WebLinkAboutCity Council Resolution 1988-661L4bWALO- awir�@Bi ill]
Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota was held on the 3rd day of October ,
1488. The following members were present: Mayor Schneider. Councilmembers Vasitioy
Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-661
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND ADDITION (87006)
WHEREAS, in accordance with the development contract dated July 29, 1987 Northland Land
Company, developer of Parkers Lake North 2nd Addition (87006), has agreed to install
certain improvements for said development; and
WHEREAS, the developer has compieted 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 an follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sever
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Landscape and Sidewalk
Design, Administration, Inspection, As-Builts
�f_"
$ 254,340
$ 77,721
191,100
19,110
116,182
8,068
174,882
17,488
15,400
11,500
37,500
-0-
450
450
381,055
-0-
30,000
25,250
$ 1,345,018 $ 175,476
That the letter of credit required for the above items be reduced as detailed above
from $539,691 to $175,476 to reflect the completed work.
Resolution No. 88-661
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:
SIE!!
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
$1,000 $1,000
$163,860 $163,860
The notion 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: Flavor Schneider, Councilriemhers Vasiliou. Ricker. Zitur and Sink ,
The following voted against or abstained: _ None
Whereupon the Resolution was declared duly passed and adopted.