HomeMy WebLinkAboutCity Council Resolution 1991-139CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a ri-gL9r meeting of the City Council of
the City of Plymouth, Minnesota was held on the dth day of mnrrh ,
1991. The following members were present: Mayor Berman, Councilmembers Helliwell, ,
Ricker, Vasiliou, and Zitur
The following members were absent: None
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 91-139
REDUCING DEVELOPMENT BOND
HOLIDAY WEST ADDITION (83025)
WHEREAS, in accordance with the development contract dated July 7, 1983, Lyndale
Terminal Company, developer of Holiday West Addition (83025), 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
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
Maintenance of Erosion and
Sediment Control Plan
Street Sweeping and Storm Sewer Cleaning
Design, Administration, Inspection, As-Builts
TOTAL
$ -0-
$ -0-
-0-
-0-
-0-
-0-
-0-
-0-
7,878
-0-
-0-
-0-
150
-0-
85,000
-0-
13,984
-0-
2,000
-0-
2,000
13-,321
-0-
_0_
$ 124,333
$ -0-
That the letter of credit required for the above work was previously reduced to $0
(zero) to reflect the completed work. Safeco Insurance Companies Bond No. 4129356 was
previously released.
HOLIDAY WEST ADDITION (83025)
Resolution No. 91-139
Page Two
FURTHER BE IT RESOLVED, that in accordance with City ordinances the developer provided
Bond No. 4129354 to guarantee the payment of the first two years of special
assessments; and
WHEREAS, the developer has requested a reduction of the development bond to reflect the
completed payments;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH that
the bonding requirements are reduced as Follows:
ITEM ORIGINAL BOND AMOUNT NEW AMOUNT
Two year payment guarantee
for special assessments $135,633 $ -0-
That the letter of credit required be reduced from $67,817 to $0 (zero) to reflect the
payments made to date, and Bond No. 4129354 is hereby released.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmembe Ricker , and upon vote being taken thereon, the following voted
in favor thereof : _ Mayor lier=a, Cnimri lmnmhPrc Hall iwell1 Rirkr r
Vasi iou, and 7itur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.