HomeMy WebLinkAboutCity Council Resolution 1991-334CITY 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 June ,
1988. The following members were present: Mayor Berman, Councilmembers Helliwell, ,
Ricker. Vasiliou, and Zitur
The following members were absent: None
Councilmember Ricker introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 91-371
REDUCING DEVELOPMENT BOND
FOX RUN 3RD ADDITION (85077)
WHEREAS, in accordance with the development contract dated May 14, 1986, Lundgren
Brothers Construction, Inc., developer of Fox Run 3rd Addition (85077), has agreed 'Co
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
Design, Administration, Inspection, As-Builts
TOTAL
$ 38,000
$ -0-
32,000
-0-
17,000
-0-
33,000
-0-
2,600
-0-
1,200
-0-
150
-0-
26,000
-0-
1,600
18,186
-0-
-0_
$ 169,736
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $448 to $0 (zero) to reflect the completed work.
FOX RUN 3RD ADDITION (8.5077)
Resolution No. 91- 334
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: $ 1,000 $-0-
Letter of Credit: $27,000 $-0-
FURTHER BE IT RESOLVED that the letter of credit required for the above items was
previously reduced from $4,000 to $0 (zero) and the $1,000 cash deposit is hereby
reduced to $0 (zero) and the remaining funds will be returned to the developer
forthwith.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Vasiliou , and upon vote being taken thereon, the following voted
in favor thereof: _Mayor Bergman. Councilmembers Helliwell, Ricker. Vasiliou, ,
asci Zitur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.