HomeMy WebLinkAboutCity Council Resolution 1981-857Councilmember Neils introduced the following Resolution and
i
moved its adoption:
RESOLUTION NO. 81- 857
REDUCING DEVELOPMENT BOND
FERNDALE NORTH 3RD ADDITION (A-615)
_WHEREAS, in accordance with the development contract dated March 27, 1978,
Lundgren Bros. Construction, Inc., developer of Ferndale North 3rd 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 HEREBY 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 $ 112,800 $ -0-
Sanitary Sewer 95,000 -0-
Watermain 68,000 -0-
Storm Sewer 35,000 -0-
Boulevard and Drainage Swale Sod 11,000 2,600
Pond or Ditch Construction 3,000 -0-
Street Signs 1,050 -0-
Street Sweeping and
Storm Sewer Cleaning 2,000 2,000
Park and Trail Improvements -0- -0-
Maintenance of Erosion and Sedi-
ment Control Plan 2,000 11000
Site Grading 40,000 -0-
Design, Admn., Insp., As-Builts -0- -0-
TOTALS $369,850 $5,600
That the letter of credit required which was previously reduced to $11,000 be
further reduced to $5,600 to reflect the completed work.