HomeMy WebLinkAboutCity Council Resolution 1988-724CITY 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-_7itur and Sisk _
The following members were absent: Name
Councilmember Ricker introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-724
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND ADDITION (87006)
WHEREAS, in accordance with the development contract dated July 29, 1987 Northland Land
Company, developer of Parkers Lake North 2nd Addition (87006), 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
Landscape and Sidewalk
Design, Administration, Inspection, As-Builts
TOTAL
$ 254,340
$ 77,721
191,100
-0-
116,182
-0-
174,882
3,040
15,400
11,500
37,500
-0-
450
450
381,055
-0-
30,000
25,250
$ 1,345,018 $ 132,116
That the letter of credit required for the above items be reduced as detailed above
from $175,476 to $132,116 to reflect Lhe completed work.
Resolution No. 88-724
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items , per
Section 8.1 of the roved development contract be reduced as follows:
- PP develo P
ZT ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash: $1,000 $1,000
Letter of Credit: $163,860 $81,930
FURTHER BE IT RESOLVED that the sanitary sewer and watermain construction is accepted
for continual maintenance as of October 17, 1988 subject to the One Year Guarantee by
the developer.
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 Sehneider- .onnrJ1memhpra Vaci1in,tRirlror ,
Zitur and Sisk
The following voted against or abstained:
Whereupon the Resolution was declared duly passed and adopted.