HomeMy WebLinkAboutCity Council Resolution 1988-725CITY 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, Councilmembern ,
Vasil intt, Ricker- 74ti.r nuA Rj ak
The following members were absent: None
Councilmember Ricker introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-725
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 3RD ADDITION (87036)
WHEREAS, in accordance with the development contract dated October 5, 1987, Laukka-
Williams Parkers Lake, A Minnesota General Partnership, developer of Parkers Lake North
3rd Addition (87036), 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
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 148,867
$ 21,562
118,274
-0-
106,377
-0-
45,931
-0-
20,600
17,300
-0-
-0-
1,050
1,050
-0-
_0-
-0-
52�432
-0-
4.663
$ 494,031 $ 43,525
That the letter of credit required for the above items be reduced as detailed above
from $76,160 to $43,525 to reflect the completed work.
Resolution No. 88- 725
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:
ITSORIGINALpE1i AlIOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sever Cleaning * Cash: $-0- $_0_
Letter of Credit: $-0- $_O_
See Parkers Lake North 2nd Addition for financial guarantee for this item.
FURTHER BE IT RESOLVED that the sanitary sever, watermein, and storm sewer 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
�n.neil—Sher Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider. Councilmatbers Vasiliou, Ricker, Zitur and Sisk
The following voted against or abstained: sone
iihereupon the Resolution was declared duly passed and adopted.