HomeMy WebLinkAboutCity Council Resolution 1990-793CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a rekular meeting of the City Council of
the City of Plymouth, Minnesota was held on the 10th day of Decembpr ,
1990. The following members were present: Mayor Bergman, .o nrj1memherc 14Pll;we11 ,
Ricker, Vasiliou, and Zitur
The following members were absent: None:
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90-1793
REDUCING DEVELOPMENT BOND
SWAN LAKE WEST ADDITION (89025)
WHEREAS, in accordance with the development contract dated October 2, 1989, Kings North
Corporation, developer of Swan Lake West Addition (89025), 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 (Excluding Proj. 948) $
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
145,104
$ -0-
109,429
-0-
111,170
-0-
84,335
-0-
8,200
4,100
-0-
-0-
600
-0-
150,000
15,000
9,280
74.17
-0-
2-292
$ 692,292 $ 21,392
That the letter of credit required for the above items be reduced as detailed above
from $86,168 to $21,392 to reflect the completed work.
SWAN LAKE WEST
Resolution No.
Page Two
I
ADDITION (89025)
90-793
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
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading
Permit No. 21412 for
Required Financial Guarantee
Letter of Credit No. 167R is
on file)
ORIGINAL AMOUNT NEW AMOUNT
Cash: $-0- $-0-
Letter of Credit: $-0- $-0-
FURTHER BE IT RESOLVED, that the sanitary sewer, watermain, storm sewer, street
construction, concrete curb and gutter, and trail construction is accepted for
continual maintenance as of December 10, 1990, subject to the one year guarantee by the
developer.
* FURTHER BE IT RESOLVED that pursuant to the developer's request a 10% retainer in
the form of Letter of Credit No. 183 in the amount of $39,000 will be held as the
required development bond for sanitary sewer, watermain, storm sewer, street
construction, concrete curb and gutter, and trail construction in lieu of the
required maintenance bond.
The motion for the adoption of the foregoing Resolution was duly seconded by
Comcilmember Vasiliou , 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.