HomeMy WebLinkAboutCity Council Resolution 1981-858Councilmember Neils introduced the following Resolution and
moved its adoption:
RESOLUTION NO. 81- 858
REDUCING DEVELOPMENT BOND
NATHAN TRAILS ADDITION (A-698)
WHEREAS, in accordance with the development contract dated May 15, 1978,
Meadox: 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 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
$108,570
$ 5,400
Sanitary Sewer
83,210
-0-
Watermain
66,640
-0-
Storm Sewer
43,025
-0-
Boulevard and Drainage Swale Sod
11,800
6,000
Pond or Ditch Construction
2,500
-0-
Street Signs
1,050
-0-
Street Sweeping and
Storms Sewer Cleaning
1,000
1,000
Park and Trail Improvements
-0-
-0-
Maintenance of Erosion and Sedi-
ment Control Plan
1,000
1,000
Site Grading
62,750
-0-
Design, Admn., Insp., As-Builts
-0-
-0-
TOTALS
$381,545
$13,400
That the letter of credit which was previously reduced to $22,750 be further
reduced to $13,400 to reflect the completed work.