HomeMy WebLinkAboutCity Council Resolution 1990-607CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a _eYula meeting of the City Council of
the City of Plymouth, Minnesota was held on the _ 24th day of SpPtemher ,
1990. The following members were present: Mayor Bergman. Counrilmomhers ,
Helliwell. Ricker, Vaa lion. and Zitur
The following members were absent: Nnne
CnimrilmamhPr_Zifur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90-607
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;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA; that the bonding requirements are reduced as follows:
Wom.
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
-0-
-0-
-0-
150
-0-
270,000
-0-
-0-
32.952
-0-
-0-
$ 307,702
$ -0-
That the letter of credit required for the above items detailed above be reduced from
$307,702 to $0 (zero). This obligation was guaranteed by Subdivision Bond No.
U1446291. Since the required work has been completed the bond is hereby released.
Resolution No. 90- 607
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:
0
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-
The motion for the adoption of the foregoing Resolution was duly seconded by
Mayor Bergman , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Bergman, Councilmembers Helliwell, Ricker, Vasiliou, ,
and Zitur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.