HomeMy WebLinkAboutCity Council Resolution 1989-757CITY OF PLYMOUTH
Purs4.uL to due call and notice thereof, a regular meeting of the City Council of
the :ity of Plymouth, Min snots was held on the20th day of November
1989. The following, members were present:
Sisk, Zitur, Schneider, Ricker, Vasiliou
The following sMsbers were absent: None
**e rer ***
Councilmet<�►er Sisk
adoption;
introduced the following Resolution and moved its
RESOLUTION NO. 89-757
REDUCING DEVELOPMENT BOND
KINGS NORTH ADDITION (86068)
WHEREAS, in accordance with the development contract dated February 5, 1987, Kings
North Corporation, developer of Kings North Addition (86068), 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:
Ya.
Street Construction $ 91,019 $ -0-
Sanitary Sewer 73,168 -0-
Watermain 67,407 -0-
Storm Sewer 48,796 -0-
Boulevard and Drainage Swale Sod 8,400 2,400
Pond or Ditch Construction -0- -0-
Street Signs 750 -0-
Site Grading and Drainage Isprovements 97,046 -0-
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 46.390 _288
TOTAL $ 432,976 $ 2,688
That the letter of credit required for the above items be reduced as detailed above
from $7,616 to $2,688 to reflect the completed work.
Resolution No. 89-757
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the a2Proved development contract be reduced as follows:
piv";]
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
FURTHER BE IT RESOLVED that the letter of credit for the above items is reduced from
$16,130 to $4,000 and the $1,000 cash deposit remains the same.
The motion for the adoption of the foregoing Resolution was duly seconded by
Counci?member Zitur , and upon vote being taken thereon, the following voted
in favor thereof: Sisk. Zitur. Schneider_ Ricker_ Vasiliou
The following voted against or abstained: None _
Whereupon the Resolution was declared duly passed and adopted.