HomeMy WebLinkAboutCity Council Resolution 1990-485CITY OF PLYMOUTH
isPursuant to due call and notice thereof, a regular meeting of the City Council of
the City of Plymouth, Minnesota was held on the 6th day of August ,
1990. The following members were present: _Mayor Bergman, Councilmembers ,
_Helliwell. Ricker, Vasiliou, and Zitur
The following members were absent: None
Co,cncil_member Vasiliou introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90-485
REDUCING DEVELOPMENT BOND
WATERFORD PARK PLAZA ADDITION (87027)
WHEREAS, in accordance with the development contract dated August 16, 1988, RNWNL
Limited Partnerhip, developer of Waterford Park Plaza Addition (87027), 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;
aNOW, 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
$ -0-
$ -0-
-0-
-0-
-0-
-0-
-0-
-0-
4,600
4,600
-0-
-0-
150
150
270,000
270,000
-0-
32.952
-0-
32,952
$ 307,702
$ 307,702
That the letter of credit required for the above items remain as detailed above at
$307,702. This obligation is guaranteed by Subdivision Bond No. U1446291.
Resolution No. 90-485
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:
ITEM
ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $1,000 $-0-
Letter of Credit: $28,100 $-0-
FURTHER BE IT RESOLVED that the above financial guarantees totalling $29,100 that were
provided in the form of a cash deposit are hereby released and can be returned to the
developer.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Rorgmnn: Gannri Imamharc Ha11 inia11 , Rirkar- Vasil inn. ,
anA 7itar
The following voted against or abstained: Nana
Whereupon the Resolution was declared duly passed and adopted.