HomeMy WebLinkAboutCity Council Resolution 1991-406CITY 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 22nd day of Juiv ,
1991. The following members were present: Mayor Berman, Councilmembers Ricker,
Vasiliou. and Zitur
The following members were absent: Councilmember Helliwell
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 91-406
REDUCING DEVELOPMENT BOND
PARKERS LAKE CORPORATE CENTER 2ND ADDITION (88138)
WHEREAS, in accordance with the development contract dated December 5, 1988, United
Properties Development Company, developer of Parkers Lake Corporate Center 2nd Addition
(88138), has agreed to install certain improvements for said development; and
WHEP.7AS, 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:
Ar
Street Construction
Sanitary Sewer
Watermain (Does not include raw water line
or 1/2 cost of 24" watermain to be
be reimbursed to developer)
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
$ 16,160
$ -0-
-0-
-0-
12,340
-0-
7,370
-0-
2,500
-0-
-0-
-0-
150
-0-
12,000
-0-
1,864
-0-
6.286
-0-
$ 58,670
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $9,493 to $-0- (zero) to reflect the completed work.
N
PARKERS LAKE CORPORATE CENTER 2ND ADDITION (88138)
Resolution No. 91- 406
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: $3,920 $ -0-
FURTHER BE IT RESOLVED that the letter of credit required for the above items is
reduced from $2,000 to $0 (zero). The required cash deposit is also reduced from
$1,000 to $0 (zero) and the remaining funds can be returned to the developer.
FURTHER BE IT RESOLVED that the street construction, watermain construction (excluding
the raw water line), storm sewer construction, and trail construction is accepted for
continual maintenance as of July 22, 1991, subject to the One Year Guarantee by the
developer.
The miticn for the adoption of the foregoing Resolution was duly seconded by
CoLmxA lmember Ricker , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Bergman_ Councilmembers Ricker. Vaci�o, and 7itur ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.