HomeMy WebLinkAboutCity Council Resolution 1991-517CITY OF PLYMOUTH
RESOLUTION NO. 91-517
REDUCING DEVELOPMENT BOND
SHILOH PINES ADDITION (88025)
WHEREAS, in accordance with the development contract dated March 6, 1989, Nina W.
Wildman and B 6 H Supply, Inc., developer of Shiloh Pines Addition (88025), 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:
Street Construction $ 27,142 $ -0-
Sanitary Sewer 22,040 -0-
Watermain 15,965 -0-
Storm Sewer 15,456 -0-
Boulevard and Drainage Swale Sod 2,200 -0-
Pond or Ditch Construction -0- -0-
Street Signs 300 -0-
Site Grading and Drainage Improvements 65,000 -0-
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 17.772 -0-
TOTAL
$ 165,875 $ -0-
That the letter of credit required for the above items be reduced as detailed above
from $728 to $0 (zero) to reflect the completed work.
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
ITEM
ORIGINAL AMOUNT NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash: $1,000 $-0-
Letter of Credit: $10,600 $ -0-
FURTHER BE IT RESOLVED that the required financial guarantee for Maintenance of Erosion
and Sediment Control Plan, street sweeping, and storm sewer cleaning is reduced from
_ $1,000 to $0 (zero) while the required letter of credit (No. 72998) in the amount of
$10,600 was previously reduced to $0 (zero) and released.
Adopted by the City Council on September 4, 1991.