HomeMy WebLinkAboutCity Council Resolution 1990-173CITY OF PLYMOUTH
B! Pursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota was held on the 26th day of February ,
1990. The following members were present: Mayor Bergman, Councilmembers Helliwell,
_Rlrker_ Vasiliou- and Zitur
The following members were absent: None
Councilmember Vasiliou introduced the following Resolution and moved its
adoption;
RESOLUTION NO. 90- 173
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 2ND ADDITION (87006)
WHEREAS, in accordance with the development contract dated July 29, 1987 Northland Land
Company, developer of Parkers Lake North 2nd Addition (87006), has agreed to instail
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:
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
$ 254,340
$ -0-
191,100
-0-
116,182
-0-
174,882
-0-
15,400
-0-
37,500
-0-
450
-0-
381,055
-0-
30,000
144.109
-0-
_0-
$ 1,345,018
$ -0-
That the letter of credit required for the above items has been previously reduced as
detailed above from $81,952 to $0 (zero) to reflect the completed work. Letter of
Credit No. SB -8031 was hereby released.
Resolution No. 90-173
Page Two
FURTHER BE IT REFOLVED 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: $163,860 $ -0-
That the letter of credit required for the above items be reduced as detailed above
from $10,000 to $0 (zero) to reflect the completed work. Letter of Credit No. SB -5864
is hereby released.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmemher .fur and upon vote being taken thereon, the following voted
in favor thereof: May r Rprgman- raunnilmamhtara Malliwgil- R4ckor, ,
Vgailirnl} and Zitnr
The following voted against or abstained: Niro
Whereupon the Resolution was declared duly passed and adopted.