HomeMy WebLinkAboutCity Council Resolution 1979-717Councilmember Spaeth introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 79-717
REDUCING DEVELOPMENT BOND
(CEDAR RIDGE ADDITION (A-813)
WHEREAS, in accordance with the Development Contract, dated July 24, 1978, B -T
Land Company, developer of Cedar Ridge Addition, 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
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard Sod
Pond or Ditch Construction
Street Signs
Street Sweeping &
ORIGINAL AMOUNT
NEW AMOUNT
$ 92,750
$12,900
74,760
-0-
67,480
-0-
32,480
-0-
15,000
15,000
1,000
-0-
750
750
Storm Sewer Cleaning 1,000 11000
Erosion Control 72,p0p0p0 2,000
1911F
ro en� 804 57'495 57495
ri� reel -a- 2,070
$425,715 $91,215
That the Letter of Credit, which was previously reduced to $138,724 be further
reduced to $91,215 to reflect the completed work.
FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer are
accepted, as of October 22, 1979, for continual maintenance subject to the one year
quarantee by the Developer.