HomeMy WebLinkAboutCity Council Resolution 1990-829CITY 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 17th day of December ,
1990. The following members were present: Nlayor Bergman, Councilmembers Helliwell ,
Ricker_, Vasiliou, and 7itur
The following members were absent: None
Councilmember Vasiliou introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 90-829
REDUCING DEVELOPMENT BOND
PASS LAKE HILLS ADDITION (88060)
WHEREAS, in accordance with the development contract dated April 18, 1989, revised June
15, 1989, CSM Corporation and Graham Development Company, developer of Bass Lake Hills
Addition (88060), 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:
W5 P
Street Construction
(Does not include Proi. 416)
County Road 47
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction (Incl. with Grading)
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 82,000 $ 8,200
52,540
5,254
50,786
5,079
108,750
10,875
129,170
12,917
7,700
2,000
-0-
-0-
450
-0-
405,000
10,000
-0-
100,367
-0-
6,519
$ 936,763 $ 60,844
That the letter of credit required for the above items be reduced as detailed above
from $156,436 to $60,844 to reflect the completed work. Letter of Credit No. 11514 is
hereby reduced accordingly.
BASS LAKE HILLS ADDITION (88060)
Resolution No. 90- 829
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:
MD
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$21,000 $10,500
FURTHER BE IT RESOLVED that the required financial guarantee for Maintenance of Erosion
and Sediment Control Plan remains at $1,000 cash with Letter of Credit No. 11510 in the
amount of $21,000 being reduced to $10,500.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Beroman. Councilmembers Helliwell, Ricker, V•-�-i1inil, ,
and Zitur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.