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HomeMy WebLinkAboutCity Council Resolution 1988-821CITY 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 tho 21st day of November , 1988. The following members were present: Mayor Schneider, Councilmembers , Vasiliou. Ricker, Zitur and Sisk The following members were absent: None Councilmember Sisk introduced the following Resolution and moved its adoption: RESOLUTION NO. 88- 821 REDUCING DEVELOPMENT BOND BASS LAKE HEIGHTS 4TH ADDITION (85126) WHEREAS, in accordance with the development contract dated February 5, 1987, BLH Devetopment Company, developer of Bass Lake Heights 4th Addition (85126), 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 C ---'TY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows: 0 Street Construction $ 58,976 $ -0- Sanitary Sewer 89,651 -0- Watermain 40,274 -0- Storm Sewer 12,430 -0- Boulevard and Drainage Swale Sod 7,200 3,000 Pond or Ditch Construction -0- -0- Street Signs 450 -0- Site Grading and Drainage Improvements 61,500 -0- Park and Trail Improvements -0- -0- Design, Administration, Inspection, As-Builts 32.458 360 TOTAL $ 302,939 $ 3,360 That the letter of credit required for the above items be reduced as detailed above from $17,833 to $3,360 to reflect the completed work. Resolution No. 88-821 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: Ffm Maintenance of Erosion and Sediment Control Plan Street Sweeping and Storm Sewer Cleaning Cash: Letter of Credit: $1,000 $1,000 $33,800 $16,400 FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is accepted for continual maintenance as of November 21, 1988 subject to the One Year Guarantee by the developer. The motion for the adoption of the foregoing Resolution was duly seconded by _Oouneilmember Z.itur , 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: None Whereupon the Resolution was declared duly passed and adopted.