HomeMy WebLinkAboutCity Council Resolution 1981-826The following mem ers were a sen none
Councilmember Neils introduced the following Resolution and
moved its a option:
RESOLUTION MO. 81-826
REDUCING DEVELOPMENT BOND
MEDICINE LAKE ESTATES (A-723)
WHEREAS, in accordance with the Development Contract, dated_ September 19, 1977,
Richard M. Smith, Developer of Medicine Lake Estates (A-723) 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 A11OUNT
Street Construction $ 78,500 $ -o-
Sanitary Sewer 78,900 -0-
Watermain 41,600 -0-
Storm Sewer 25,000 -0-
Boulevard Sod 9,200 5,000
Pond or Ditch Construction -0- -0-
Street Signs 450 -0-
Street Sweeping &
Storm Sewer Cleaning 2,500 11500
Erosion Control 2,500 1,500
Site Grading 20,800 -0-
TOTALS $259,450 $8,000
That the letter of credit, which was previously reduced to $26,500, be further
reduced to $8,000 to reflect the completed work.
FURTHER BE IT RESOLVED that the street construction, concrete curb and gutter,
sanitary sewer, watermain and storm sewer are accepted, as of December 7, 1981 for
continual maintenance subject to the one year guarantee by the Developer.