HomeMy WebLinkAboutCity Council Resolution 1988-670CITY 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 October ,
1988. The following members were present: Mayor Schneider. Councilmembersyasilimi ,
Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-670
REDUCING DEVELOPMENT BOND
NEIGHBORS CREEK ADDITION (85005)
WHEREAS, in accordance with the development contract dated July 31, 1985, Orono
Construction, Inc., developer of Neighbors Creek Addition (85005), has agreed to
install certain improvements for said development; and
WHEREAS, the developer was subsequently replaced by Builders Finance, Inc.; and
WHEREAS, the City of Plymouth and Builders Finance, Inc. entered into an agreement
dated July 27, 1987; 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
$ 8,900
$ -0-
1,500
-0-
650
-0-
-0-
-0-
600
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
_1-39
-0-
—0
$ 13,048
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $13,048 to $0 (zero) to reflect the stipulations in the July 27, 1987 agreement.
Resolution No. 88-670
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:
0
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash: $500 $-0-
Letter of Credit: $-0- $-0-
The motion 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: MaYor S hnpidpr- rminnilum—hers Vasilinue Richer- Zitur and Sisk ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.