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HomeMy WebLinkAboutCity Council Resolution 1988-882CITY OF PLYMOUTH Pursuant to due call and notice thereof, a rEan7_r meeting of the City Council of the City of Plymouth, Minnesota was held on the 19th day of necemher , 1988. The following -members were present: Mayor Schneider, Counellmembers Vasiliou , ` Rcker`and Ztur _ 'The following sabers were absent: Counclmember Sisk Councilmember Zitur introduced the following Resolution and moved its adoption: RESOLUTION NO. 88-882 REDUCING DEVELOPMENT BOND MALLARD POINTE ADDITION (87110) WHEREAS, in accordance with the development contract dated January 27, 1988, Northland Land Company, developer of Mallard Pointe Addition (87110), 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 fITY COUNCIL OF THE CITY OF PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows: I= 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-Builts TOTAL $ 19,639 $ 10,000 12,069 2,414 9,717 1,943 44,295 8,859 2,400 1,200 -0- -0- -0- -0- -0- -0- -0- -0- $ 98,694 $ 27,346 That the letter of credit required for the above items be reduced as detailed above from $98,694 to $27,346 to reflect the completed work. '1-882 lution No &.3 Mage TWO ttRTHER-SE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of the approved development contract be reduced as follows: ORIGINAL Al10UNT NEW AMOUNT Maintenanco.of.Erosion and Sediment Control Plan Street Sweeping and Storm Sever Cleaning (See Site Performance Agreement for details) Cash: $-0- $-0- Letter of Credit: $-0- $-0- The notion for the adoption of the foregoing Resolution was duly seconded by and upon vote being taken thereon, the following voted in favor thereof: Mayar Sehne ou ilmemhers Vasiliou. Ricker and Zitur The following voted against or abstained: None Whereupon the Resolution was declared duly passed and adopted.