HomeMy WebLinkAboutCity Council Resolution 1991-616CITY OF PLYMOUTH
RESOLUTION NO. 91- 616
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS ADDITION (90009)
WHEREAS, in accordance with the development contract dated June 14, 1991, Lundgren
Brothers Construction, Inc., developer of Churchill Farms Addition (90009), has agreed
to install certain improvements for said deveiopment; 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:
0i
Street Construction
Co. Rd. 24 Turn Lane
Sanitary Sewer
Watermain
Storm Sewer (Does Not Include Proj. No. 016)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 136,500
NEW AMOUNT
$ 136,500
19,980
19,980
84,700
16,940
67,000
13,400
53,600
10,720
81000
8,000
-0-
-0-
750
750
114,900
23,000
5,500
58.912
5,500
28.174
$ 549,842 $ 262,964
That the letter of credit required for the above items be reduced as detailed above
from $446,914 to $262,964 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:
I=
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on October 7, 1991
$1,000 $1,000
$27,400 $27,400