HomeMy WebLinkAboutCity Council Resolution 1988-669CITY 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 C)rrnhar ,
1988. The following members were present: Mayor Schneider- ,
Councilmembers Vasiliou, Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-669
REDUCING DEVELOPMENT BOND
HERITAGE WEST 2ND ADDITION (86048)
WHEREAS, in accordance with the development contract dated April 6, 1987, Heritage
West, Inc., Builders Finance, Inc., developer of Heritage West 2nd Addition (86048),
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:
10 TTFM ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 54,000 $ -0-
Sanitary Sewer 43,000 -0-
Watermain 39,000 -0-
Storm Sewer 41,000 -0-
Boulevard and Drainage Swale Sod 4,000 1,000
Pond or Ditch Construction -0- -0-
Street Signs 300 -0-
Site Grading and Drainage Improvements 10,000 -0-
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 22.956 120
TOTAL $ 214,256 $ 1,120
That the letter of credit required for the above items be reduced as detailed above
from $14,672 to $1,120 to reflect the completed work.
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter 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
Cnunr-ilmPmhPr Zir„r , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider. CgunrilnipmhArS Vaail1u, Ricker, Zitur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.