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HomeMy WebLinkAboutCity Council Resolution 1991-023CITY 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 7th day of January , 1991. The following members were present: Councilmembers Helliwell. Ricker, , Vasiliou, and Zitur The following members were absent: Mayor Bergman Councilmember Ricker introduced the following Resolution and moved its adoption: RESOLUTION NO. 91-23 REDUCING DEVELOPMENT BOND WILD WINGS 4TH ADDITION (89050) WHEREAS, in accordance with the development contract dated June 30, 1989, David C. Bell Investment Company and DeVries Builders, Inc., developer of Wild Wings 4th Addition (89050), 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 $ 105,160 $ -0- Sanitary Sewer 89,262 -0- Watermain 81,639 -0- Storm Sewer 13,456 -0- Boulevard and Drainage Swale Sod 8,000 1,400 Pond or Ditch Construction -0- -0- Street Signs 600 -0- Site Grading and Drainage Improvements (Grading Permit No. 17583 Issued) Park and Trail Improvements (See Sec. 13.1 Wild Wings 3rd Add Dev. Contract) Design, Administration, Inspection, As-Builts 35.774 168 TOTAL $ 333,891 $ 1,568 That the letter of credit required for the above items be reduced as detailed above from $9,632 to $1,568 to reflect the completed work. WILD WINGS 4TH ADDITION (89050) Resolution No. 91-23 Page Two FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of the approved dr,.'opment contract be reduced as follows: ITEM ORIGINAL AMOUNT NEW AMOUNT Maintenance of Erosion and Sediment Control Plan Street Sweeping and Storm Sewer Cleaning (See Grading Permit No. 17583 for required financial guarantees for these items). Cash: $-0- $-0- Letter of Credit: $-0- $-0- 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: Councilmembers Helliwell. Ricker. Vasiliou. and Zitur , The following voted against or abstained: None Whereupon the Resolution was declared duly passed and adopted.