HomeMy WebLinkAboutCity Council Resolution 1989-460CITY 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 7th day of August ,
1989. The following members were present: Mayor Schneider, Councilmembers Vasiliou
Ricker. Zitur and Sisk
The following members were absent: None
Cnunrilnwmher Stak introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 89- 460
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 3RD ADDITION (87036)
WHEREAS, in accordance with the development contract dated October 5, 1989, Laukka-
Williams Parkers Lake, A Minnesota General Partnership, developer of Parkers Lake North
3rd Addition (87036), 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 $ 148,867 $ 10,000
Sanitary Sewer 118,274 -0-
Watermain 106,377 -0-
Storm Sewer 45,931 -0-
Boulevard and Drainage Swale Sod 20,600 5,000
Pond or Ditch Construction -0- -0-
Street Signs 1,050 300
Site Grading and Drainage Improvements -0- -0-
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 52,932 1.836
TOTAL
$ 494,031 $ 17,136
That the letter of credit required for the above items be reduced as detailed above
from $41,285 to $17,136 to reflect the completed work.
Resolution No. 89- 460
Page Two
1 FURTHER 86 IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
li
ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Store
Sewer Cleaning Cash: $-0- $-0-
Letter of Credit: $-0- $-0-
See Parkers Lake North 2nd Addition for financial guarantee for this item.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilseei6er Ricker , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider- ilinl_ Rirlrar_ Zi*nr and Qia4 ,
The following voted against or abstained: Nene
Whereupon the Resolution was declared duly passed and adopted.
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