HomeMy WebLinkAboutCity Council Resolution 1988-855CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a rog,jar meeting of the City Council of
the City of Plymouth, Minnesota was held on the Sth day of December
1988. The following members were present: M:yor Schneider, Co+n ilmPmbPrG Sick ,
and Vasiliou
The following members were absent: VnjjnrilinamhPrR RirkPr anti Zit++r
CntineilmPmhPr Sick introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 88-855
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:
Fw.
Street Construction $ 148,867 $ 21,562
Sanitary Sewer 118,274 -0-
Watermain 106,377 -0-
Storm Sewer 45,931 -0-
Boulevard and Drainage Swale Sod 20,600 15,000
Pond or Ditch Construction -0- -0-
Street Signs 1,050 300
Site Grading and Drainage Improvements -0- -0-
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As -Built* 52'932 4,/23
TOTAL $ 494,031 $ 41,285
That the letter of credit required for the above items be reduced as detailed above
from $43,525 to $41,285 to reflect the completed work.
Resolution No. 88- 855
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of Lhe approved development contract be reduced as follows:
RPT
e 1 Eel I J1 " 51 i Yl6
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash: $-0- $-0-
Letter of Credit: $-0- $-0-
See Parkers Lake North 2nd Addition for financial guarantee for this item.
The motion for the adoption of the foregoing Resolution was duly seconded by
Council member Vaailiou and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider- Councilmemhern Sink and Vaailiml ,
The following voted against or abstained: Kane
Whereupon the Resolution was declared duly passed and adopted.