HomeMy WebLinkAboutCity Council Resolution 1979-655tr,r
Councilmember Neils introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 79-655
REDUCING DEVELOPMENT BOND
NATHAN TRAILS ADDITION (A-698)
WHEREAS, in accordance with the Development Contract, dated May 15, 1978, Meadow
Corporation, developer of Nathan Trails Addition (A-698) 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
$108,570
$13,000
Sanitary Sewer
83,210
8,321
Watermain
66,640
6,664
Storm Sewer
43,025
4,302
Boulevard Sod
11,800
11,800
Pond or Ditch Construction
2,500
2,500
Street Signs
1,050
1,050
Street Sweeping &
Storm Sewer Cleaning
1,000
1,000
Erosion Control
1,000
11000
Site Grading
62,750
0
TOTALS
$381,545
$49,637
That the letter of credit which was previously reduced to $145,207 be further reduced
to $49,637.00 to reflect the completed work.