HomeMy WebLinkAboutCity Council Resolution 1988-666CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a �rpg,tas= meeting of the City Council of
the City of Plymouth, Minnesota was held on the Ird day of October ,
- 1988. The following members were present: Mayor Schneider, Councilmembers Vasilinu ,
Ricker. Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-666
REDUCING DEVELOPMENT BOND
KINGS NORTH ADDITION (86068)
WHEREAS, in accordance with the development contract dated February 5, 1987, Kings
North Corporation, developer of Kings North Addition (86068), 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,
MINNESOTA; that
BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
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
$ 91,019
$ 20,000
73,168
-0-
67,407
-0-
48,796
-0-
8,400
7,200
-0-
-0-
750
-0-
97,046
-0-
-0-
46,390
-0-
3+264
$ 432,976
$ 30,464
That the letter of credit required for the above items be reduced as detailed above
from $31,808 to $30,464 to reflect the completed work.
Resolution No. 88- 666
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduceu as follows:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
X01 aye
9
The motion for the adoption of the foregoing Resolution was duly seconded by
ro►nrilmPmhrar 2itnr and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider CoLri]members Vasillpji_ RiekPr. Ziri,r ,
.and Sisk
The following voted against or abstained: - None
Whereupon the Resolution was declared duly passed and adopted.