HomeMy WebLinkAboutCity Council Resolution 1979-625Councilmember Spaeth introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 79-625
REDUCING DEVELOPMENT BOND
WEST RIDGE ESTATES 2ND ADDITION (A-745)
WHEREAS, in accordance with the Development Contract, dated June 1, 1979, Laukka
and Associates, Inc., developer of West Ridge Estates 2nd Addition (A-745), 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 RESOLVED BY THE CITY COUNCIL OF THE CITY OF PLYMOUTH,
MINNESOTA that the bonding requirements are reduced as follows:
ITEM
ORIGINAL AMOUNT
NEW AMOUNT
Street Construction
$ 63,075
$ 63,075
Sanitary Sewer
57,300
14,325
Watermain
44,550
11,138
Storm Sewer
22,060
5,515
Boulevard Sod
8,400
8,400
Pond or Ditch Construction
11500
1,500
Street Signs
600
600
Street Sweeping &
Storm Sewer Cleaning
11500
1,500
Erosion Control
1,500
1,500
Site Grading
38,700
3,870
Design, Adm., Insp., As-Builts 28,702.20
13,371
TOTALS
$267,887.20
$124,794
That the Letter of Credit be reduced to $124,794 to reflect the completed work.