HomeMy WebLinkAboutCity Council Resolution 1989-533CITY 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 11th day of September
1989. The following members were present: Mayor Schneider, Councilmembers Vasiliou
The following members were absent: None
irnyxnt,ilmpmhRr Risk introduced the following Resolution and moved its
adoption:
RESOLUTION NO. 89-533
REDUCING DEVELOPMENT BOND
PRIME WEST BUSINESS PARK 2ND ADDITION (88058)
WHEREAS, in accordance with the development contract dated August 1, 1988, Prime
Development Corporation, developer of Prime West Business Park 2nd Addition (88058),
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,
MINHZSOTA; that
BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
the bonding requirements are reduced as follows:
I=
Street Construction $ 45,200 $ 7,500
Sanitary Sever 5,400 3,000
Watermain 11,600 1,160
Storm Sewer 19,200 1,920
Boulevard and Drainage Swale Sod 3,700 1,900
Pond or Ditch Construction -0- -0-
Street Signs ISO 150
Site Grading and Drainage Improvements 65,300 6,530
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 18.066 2-659
TOTAL $ 168,616 $ 24,819
That the letter of credit required for the above items be reduced as detailed above
from $168,616 to $24,819 to reflect the completed work.
Resolution No. 89-533
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
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$1,000 $1,000
$45,000 $33,000
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Mayor Schneider, Councilmembers Vasiliou. Ricker- Zirizr and Sink ,
The following voted against or abstained: None
Whereupon the Resolution was declared duly passed and adopted.