HomeMy WebLinkAboutCity Council Resolution 1989-015CITY 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 3rd day of January ,
1989. The following members were present: Mayor Schneider. Councilmembers Vasilion ,
Ricker, Zitur and Sisk
The following members were absent: None
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CouncilmPmber Sisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 89- 15
REDUCING DEVELOPMENT BOND
PLYMOUTH HILLS 3RD ADDITION (81032)
WHEREAS, in accordance with the development contract dated July 12, 1982, Plymouth
Hills Company, developer of Plymouth Hills 3rd Addition, (81032), 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
Street Sweeping and Storm Sewer Cleaning
Site Grading
Park and Trail Improvements
Maintenance of Erosion and Sediment Control Plan
Design, Administration, Inspection, As-Builts
TOTAL
38,100
$ -0-
13,700
-0-
1,400
-0-
32,300
-0-
5,000
-0-
-0-
-0-
300
.-J-
2,500
-0-
35,300
-0-
-0-
-0-
2,000
15,672
-0-
-0-
$ 146,272 $ -0-
That the letter of credit required be reduced from $41,966 to $0 (zero) to reflect the
completed work. The combined letter of credit on file with the City can be reduced to
$0 (zero) for the 3rd Addition: The letter of credit is identified by the First
Plymouth National Bank as Plymouth Hills Development Company - Irrevocable Letter of
Credit No. 2. The requirements for the 2nd Addition were previously reduced to $0
(zero) on September 13, 1988 per Resolution No. 88-587.
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 Schneider. Councilmembers Vasiliou, Ricker, Zitur and Sisk
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.