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HomeMy WebLinkAboutCity Council Resolution 1991-288CITY 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 21St day of May 1991. The following members were present: _Mayor Bergman, CounciLmember Helliwell - Ricker, and Vasiliou The following members were absent: Counci member Zi ur Councilmember Vasiliou introduced the following Resolution and moved its adoption: RESOLUTION NO. 91-288 REDUCING DEVELOPMENT BOND HERITAGE RIDGE ADDITION (86087) WHEREAS, in accordance with the development contract dated November 3, 1987, Host Development and International Development, developer of Heritage Ridge Addition (86087), 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 (See Site Grading Permit No. 10962) Park and Trail Improvements Design, Administration, Inspection, As-Builts TOTAL $ 88,428 $ -0- 64,950 -0- 45,369 -0- 14,376 -0- 6,400 1,000 -0- -0- 450 -0- -0- -0- 1,256 26-547 -0- 120 $ 247,776 $1,120 That the letter of credit required for the above items be reduced as detailed above from $2,912 to $1,120 to reflect the completed work. Letter of Credit No. 5585/3237 is hereby reduced accordingly. HERITAGE RIDGE ADDITION (86087) Resolution No. 91-288 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- *See Grading Permit No. 10962 for Financial Guarantee The motion for the adoption of the foregoing Resolution was duly seconded by Mayor Beronan , and upon vote being taken thereon, the following voted in favor thereof: M=r Bergmp, Counrilmemherc HelliwP11 Rirker, and , Vasiliou The following voted against or abstained: DiGLQ Whereupon the Resolution was declared duly passed and adopted.