HomeMy WebLinkAboutCity Council Resolution 1988-662CITY 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 3rd _ day of oc[oher ,
1988. The following o mbern were present: Mayor Schneider. Councilmembers ,
Vasiliou, Ricker. 2itur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-662
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 3RD ADDITION (87036)
WHEREAS, in accordance with the development contract dated October 5, 1987, Laukka-
Williams Parkers Lake, A Minnesota General Partnership, developer of Parkers Lake North
3rd Addition (87036), 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
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
$ 148,867
$ 21,562
118,274
11,827
106,377
10,638
45,931
2,323
20,600
17,300
-0-
-0-
1,050
1,050
-0-
-0-
-0-
-0-
$ 494,031 $ 69,363
That the letter of credit required for the above items be reduced as detailed above
from $76,160 to $69,363 to reflect the completed work.
Resolution No. 88-662
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:
ATF.!!
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning * Cash: $-0- $-0-
Letter of Credit: $-0- $-0-
*See Parkers Lake North 2nd Addition for financial guarantee for this item.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmemher Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider, Cnunrilmemhern Vaailirn,, Rirkpx, Zittir and 1Riak ,
The following voted against or abstained: Ainne
Whereupon the Resolution was declared duly passed and adopted.
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