HomeMy WebLinkAboutCity Council Resolution 1988-723CITY 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 17th day of October ,
1988. The following members were present: Mayor Schneider. Councilmembers ,
Vasiliou. Ricker. Zitur and Sisk
The following members were absent: None
Councilmgmber Ricker introduced the following Resolution and moved its
adortion:
RESOLUTION NO. 88-723
REDUCING DEVELOPMENT BOND
PHEASANT TRAIL ADDITION (85103)
WHEREAS, in accordance with the development contract dated May 26, 1987, Pheasant
Trails Investors, developer of Pheasant Trail Addition (85103), 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:
I= ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 18,248 $ 1,825
Sanitary Sewer 31,498 3,150
Watermain 29,913 2,991
Storm Sewer 16,216 1,622
Boulevard and Drainage Swale Sod 5,000 1,000
Pond or Ditch Construction -0- -0-
Street Signs -0- -0-
Site Grading and Drainage Improvements 41,307 -0-
Park and Trail Improvements (Sidewalk) 4,480 1,000
Design, Administration, Inspection, As-Builts 17.,.60D 240
TOTAL $ 164,262 $ 11,828
That the letter of credit required for the above items be reduced as detailed above
from $27,891 to $11,828 to reflect the completed work.
Resolution No. 88-723
Page Two
FURTHER BE IT RESOLVE!` that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
$1,000 $1,000
$7,800 $3,900
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer, street
construction and concrete curb and gutter (53rd Avenue North) is accepted for continual
maintenance as of October 17, 1988 subject to the One Year Guarantee by the developer.
In lieu of the required maintenance bond, the developer has agreed to a 10% retainage
for a one year period for the utility and street construction
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 Schneider. Councilmembers Vasiliou Ricker, ,
Zitur and Sisk
The following voted against or abstained:
Whereupon the Resolution was declared duly passed and adopted.