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HomeMy WebLinkAboutCity Council Resolution 1990-573CITY OF PLYMOUTH 10 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 Bereman. Councilmembers Helliwell. Ricker. Vasiliou. and Zitur The following members were absent: None Councilmember Ricker introduced the following Resolution and moved its adoption: RESOLUTION NO. 90373 REDUCING DEVELOPMENT BOND FOX RUN 5TH ADDITION (89058) WHEREAS, in accordance with the development contract dated February 20, 1990, Lundgren Brothers Construction, Inc., developer of Fox Run 5th Addition (89058), 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: 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 $ 24,000 $ 7,500 4,500 -0- 14,000 -0- 16,000 -0- 2,000 2,000 -0- -0- 150 150 -0- -0- -0- 7-278 -0- 1.158 $ 67,928 $ 10,808 That the letter of credit required for the above items be reduced as detailed above from $37,016 to $10,808 to reflect the completed work. Resolution No. 90-573 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: Maintenance of Erosion and Sediment Control Plan Street Sweeping and Storm Sewer Cleaning Cash: $1,000 $1,000 Letter of Credit: $ -0- $ -0- FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer construction is accepted for continual maintenance as of September 10, 1990 subject to the Two Year Guarantee by the developer. The motion for the adoption of the foregoing Resolution was duly seconded by Coun ilm mbyacilin., , and upon vote being taken thereon, the following voted in favor thereof: Mayor Bergman, Councilmembers He 7ivel l Rirkpr+yaaili„it� , and Zitur The following voted against or abstained: None Whereupon the Resolution was declared duly passed and adopted. .