HomeMy WebLinkAboutCity Council Resolution 1988-852CITY 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 5th day of December ,
1988. The following members were present: Ivor Schneider. Gounci:lmhproyaettinn ,
-_ -
and Sisk
The following members were absent: _CaunC lnm-Amhers Rirkpr and Zittir
Cnnnrilmpmher Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-852
REDUCING DEVELOPMENT BOND
KINGS NORTH ADDITION (86068)
WHEREAS, in accordance with the development contract dated February 5, 1987, Kings
North Corporation, developer of Kings North Addition (86068), has agreed to install
certain improvements for said development; end
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-Bu'Its
TOTAL
$ 91,019
$ -0-
73,168
-0-
67,407
-0-
48,796
-0-
8,400
6,800
-0-
-0-
750
-0-
97,046
-0-
-0-
46.390
-0-
816
$ 432,976
$ 7,616
That the letter of credit required for the above items be reduced as detailed above
from $30,464 to $7,616 to reflect the completed work.
Resolution No. 88-852
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:
l kin
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
S l . OC�O 51.444
532.260 516.130
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of December 5, 1988 subject to the one year
guarantee by the developer.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Vasiliou , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider, Councilmembers Vasiliou and Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.