HomeMy WebLinkAboutCity Council Resolution 1981-824�ouncilmember Neils introduced the following Resolution and
moved its adoption:
RESOLUTION PIO. 81-824
REDUCING DEVELOPMENT BOND
FERNDALE NORTH 4TH ADDITION (A-615)
WHEREAS, in accordance with the Development Contract, dated July 15, 1979,
Lundgren Bros. Construction, Inc., developer of Ferndale North 4th Addition (A-615), 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 PLY11OUTH,
MINNESOTA that the bonding requirements are reduced as follows:
ITEM ORIGINAL AMOUNT NE14 AMOUNT
Street Construction $ 55,000 $ -0-
Sanitary Sewer 50,100 -0-
Watermain 23,500 -0-
Storm Sevier 14,500 -0-
Boulevard Sod 5,800 2,900
Pond or Ditch Construction 2,000 -0-
Street Signs 450 -0- _.
Street Sweeping & 1
Storm Sewer Cleaning 11500 1,500
Erosion Control 1,500 1,000
Site Grading 6,000 -0-
Design, Insp., Admn., As-Builts 19,242 100
$179,592 $1,500
That the letter of credit required be reduced from $22,200 to $5,500 to reflect the
completed work.
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter are
accepted, as of December 7, 1981 for continual maintenance suject to the one year
guarantee by the Developer.