HomeMy WebLinkAboutCity Council Resolution 1991-447CITY 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 5th day of A:;o:st
1991. The following members were present: Mayor Berms, Councilmemh.rs
Helliwell, Ricker, Vasiliou, and Zitur
The following members were absent: None
Councilmember Zitur introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 91-447
REDUCING DEVELOPMENT BOND
PHEASANT TRAIL ADDITION (85103)
WHEREAS, in accordance with the development contract dated May 26, 1987, Pheasant
Trails Investors, developer of Pheasant Trail Addition (85103), has agLeed 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 $ 18,248 $ -0-
Sanitary Sewer 31,498 -0-
Watermain 29,913 -0-
Storm Sewer 16,216 -0-
Boulevard and Drainage Swale Sod 5,000 -0-
Pond or Ditch Construction -0- -0-
Street Signs -0- -0-
Site Grading and Drainage Improvements 41,307 -0-
Park and Trail Improvements (Sidewalk) 4,480 -0-
Design, Administration, Inspection, As-Builts 17.600 -0-
TOTAL $ 164,262 $ -0-
That the letter of credit required for the above items be reduced as detailed above
from $1,120 to $0 (zero) to reflect the completed work. Letter of Credit No. MBP
0902871 is reduced accordingly and can be released.
PHEASANT TRAIL ADDITION (85103)
Resolution No. 91-447
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:
W01V
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash: $1,000 $-0-
Letter of Credit: $7,800 $-0-
That the letter of credit for the above items (MBP 0824872) be reduced as detailed
above from $2,000 to $0 (zero) while the required cash deposit is reduced from $1,000
to $0 (zero). The letter of credit can be released and the remaining funds in the cash
deposit shall be returned to the developer forthwith.
The motion for the adoption of the foregoing Resolution was duly seconded by
Coimcilmemher Helliwell , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Bergman, Councilmembers Helliwell, Ricker, Vasiliou, ,
and Zitur
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.