HomeMy WebLinkAboutCity Council Resolution 1990-046CITY 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 22nd _ ,.y of January
1990. The following members were present: Mayor Be -n. Councilmembers
Helliwell. Ricker, and Vasiliou '
The following members were absent: Councilmember Zitur
rn»nrilmPmher Ricker introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90-46
REDUCING DEVELOPMENT BOND
FOX RUN 4TH ADDITION (88040)
WHEREAS, in accordance with the development contract dated June 6, 1988, Lundgren Bros.
Construction, Inc., developer of Fox Run 4th Addition (88040), 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:
ORIGINAL AMOUNT NEW AMOUNT
(Per Letter 8-11-88)
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
$ 84,100
$ -0-
68,200
-0-
60,400
-0-
33,400
-0-
5,600
2,800
-0-
-0-
300
-0-
129,800
-0-
8,700
35,00
-0-
336
$ 425,500
$ 3,136
That the letter of credit required for the above items be reduced as detailed above
from $3,360 to $3,136 to reflect the completed work.
Resolution No. 90-46
Page Two
µ 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:
ITEM
ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash: $1,000 $1,000
Letter of Credit: $27,000 $2,700
FURTHER BE IT RESOLVED that the letter of credit required for the above items be
reduced from $5,400 to $2,700 while the required cash deposit remains at $1,000.
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 Berman, Coun it Pmh ra HP71iwell, Rir-or, zud Vasiliou
The following voted against or abstained: Nnnp
Whereupon the Resolution was declared duly passed and adopted.