HomeMy WebLinkAboutCity Council Resolution 1988-854CITY 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 DerPmhPr ,
1988. The following members were present: MaXor RohnPidPr. CoisnrilmPmhnrn CiSk ,
And Vasiliou
The following members were absent: rnoinrilinpinhPra Rirkar and 74tur
Conneilnip-mhpr Sink introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-854
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND ADDITION (87006)
WHEREAS, in accordance with the development contract dated July 29, 1987 Northland LRnd
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 developsient 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:
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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
-0-
15,400
-0-
37,500
-0-
450
450
381,055
-0-
30,000
144-109
-0-
9.380
$ 1,345,018
$ 87,551
That the letter of credit required for the above items be reduced as detailed above
from $132,116 to $87,551 to reflect the completed work.
Resolution No. 88-854
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:
Wm
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMGUE1
$1,000 $1,000
$163,860 $10,000
FURTHER BE IT RESOLVED that the storm sewer construction 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 Sisk and Vasiliou ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.