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HomeMy WebLinkAboutCity Council Resolution 1990-761CITY 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 19th day of NnvPmher , 1990. The following members were present: Mayor Rergman. , Councilmembers Helliwell, Ricker, and Zitur The following members were absent: Counrilmemhar Vacjliall Councilmember Helliwell introduced the following Resolution and moved its adoption: RESOLUTION NO. 90-761 REDUCING DEVELOPMENT BOND QUAIL RIDGE OF PLYMOUTH 3RD ADDITION (87133) WHEREAS, in accordance with the development contract dated May 16, 1988, Cenvesco, Inc., developer of Quail Ridge of Plymouth 3rd Addition (87133), 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; 0 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 (See Permit No. 12929) Park and Trail Improvements Design, Administration, Inspection, As-Builts TOTAL $ 74,360 $ -0- 46,969 -0- 44,515 -0- 7,741 -0- 7,000 800 -0- -0- 150 -0- -0- -0- -0- -0- 21,688 _96 $ 202,423 $ 896 That the letter of credit required for the above items be reduced as detailed above from $46,491 to $896 to reflect the completed work. Resolution No. 90- 761 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: $-0- $-0- Letter of Credit: $-0- $-0- The required financial guarantee for these items is incl�ided in Grading Permit No. 12929. FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is accepted for continual maintenance as of November 19, 1990 subject to the One Year Guarantee by the Developer. The motion for the adoption of the foregoing Resolution was duly seconded by Councilmpmher 7itijr , and upon vote being taken thereon, the following voted in favor thereof: Maynr RPrgm n. Cnunrilmamhprc Helliwpll, Rirker-_and it.ur The following voted against or abstained: Nnnp Whereupon the Resolution was declared duly passed and adopted.