HomeMy WebLinkAboutCity Council Resolution 1991-551CITY OF PLYMOUTH
RESOLUTION NO. 91 -SSI
REDUCING DEVELOPMENT BOND
HERITAGE RIDGE ADDITION (86087)
WHEREAS, in accordance with the development contract dated November 3, 1987, Host
Development and International Development, developer of Heritage Ridge Addition
(86087), 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
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
(See Site Grading Permit No. 10962)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 88,428
$ -0-
64.950
-0-
45.369
-0-
14,376
-0-
6.400
600
-0-
-0-
450
-0-
-0-
-0-
1,256
26.547
-0-
72
$ 247,776
$672
That the letter of credit required for the above items be reduced as detailed above
from $1,120 to $672 to reflect the completed work.
Letter of Credit No. 5585/3237 is hereby reduced accordingly.
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
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning * Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$-0- $-0-
$-0- $-0-
*See Grading Permit No. 10962 for Financial Guarantee
Adopted by the City Council on September 16, 1991.