HomeMy WebLinkAboutCity Council Resolution 1988-805CITY 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 7th day of November ,
1988. The following members were present: Mayor Sghngider. Counrilmetnhere Vat3ilinu ,
Ricker, Zitur and Sisk
The following members were absent: None
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-805
REDUCING DEVELOPMENT BOND
STEEPLECHASE 3RD ADDITION (87019)
WHEREAS, in accordance with the development contract dated April 6, 1987, Lundgren
Brothers Conatruction, Inc. developer of Steeplechase 3rd Addition (87019), has agreed
to install certain improvements for said develipment; 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:
TTFM ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 100,000 $ -0-
Sanitary Sewer 73,400 -0-
Watermain 70,000 -0-
Storm Sewer 21,200 -0-
Boulevard and Drainage Swale Sod 6,200 2,000
Pond or Ditch Construction -0- -0-
Street Signs 450 450
Site Grading and Drainage Improvements 176,200 -0-
Park and Trail Improvements 7,400 740
Design, Administration, Inspection, As-Builts 54.582 383
TOTAL $ 509,432 $ 3,573
That the letter of credit required for the above items be reduced as detailed above
from $41,832 to $3,573 to reflect the completed work.
Resolution No. 88- 805
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:
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: $49,000 $12,250
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of November 7, 1988, subject to the One Year
Guarantee by the Developer.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk , and upon vote being taken thereon, the following voted
in favor thereof: _Mayor Schneider, CouncilMgmber s Valiliiou, Ricker, 7.itur and Sick ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.