HomeMy WebLinkAboutCity Council Resolution 1989-531CITY OF PLYMOUTH
'Pursuant to due call and notice thereof, a rPgt,lar meeting of the City Council of
_- the City of Plymouth, Minnesota was held on the tlrh day of Septemher ,
1989. The following members were present: Mayor Schneider- Counci1memhPrs ,
_Vasiliou. Ricker. Zitur and Sisk
The following members were absent: None
Coungi1@gmbeT yaisk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 89- 531
REDUCING DEVELOPMENT BOND
HERITAGE RIDGE ADDITION (86087)
WHEREAS, in accordance with the development contract dated November 3, 1987, Host
Development and International Development, developer of Heritage Ridge Addition
(86087), 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
compinted 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
(See Site Grading Permit No. 10962)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 88,428
$ -0-
64,950
-0-
45,369
-0-
14,376
-0-
6,400
2,600
-0-
-0-
450
-0-
-0-
-0-
1,256 -0-
26.547 .112
$ 247,776 $2,912
That the letter of credit required for the above items be reduced as detailed above
from $4,480 to $2,912 to reflect the completed work.
Letter of Credit No. 5585/3237 is hereby reduced accordingly.
Resolution No. 89-531
ani 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: $-0- $-0-
Letter of Credit: $-0- $-0-
*See Grading Permit No. 10962 for Financial Guarantee
The motion for the adoption of the foregoing Resolution was duly seconded by
rntt1nni1mPmhar 7ir„r , 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.
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