HomeMy WebLinkAboutCity Council Resolution 1990-564CITY 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 10th day of September ,
1990. The following members were present: Mayor Bergman Councilmemberc
Helliwell, Ricker, Vasiliou, and Zitur _
The following members were absent: None
Councilmember Zit r introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90- 564
REDUCING DEVELOPMENT BOND
FISCHERS POND ADDITION (89039)
WHEREAS, in accordance with the development contract dated March 1, 1990, Madpatt
Enterprises and Esther J. Smith, developer of Fischers Pond Addition (89039), 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;
10 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
$ 87,000
45.000
45,200
29,800
5,200
-0-
450
24,000
-0-
28.398
$ 265,048
$ 17,400*
9,000*
9,040*
5,960*
5,200
-0-
450
4,800
-0-
6,222
$ 58,072
That the letter of credit required for the above items be reduced as detailed above
from $132,888 to $58,072 to reflect the completed work.
Resolution No. 90- 564
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:
W I
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $-0- $-0-
Letter of Credit: $-0- $-0-
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer, street
construction and concrete curb and gutter is accepted for continual maintenance as of
September 10, 1990 subject to the One Year Guarantee by the Developer.
* FURTHER BE IT RESOLVED that pursuant to the developer's request, a 20% retainer will
be held in the required development bond for the sanitary sewer, watermain, storm sewer,
street construction, and concrete curb and gutter in lieu of the requested maintenance
bond.
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 Berriman, Councilmembers Helliwell, Ricker, Vasiliou, ,
and_Zitur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.