HomeMy WebLinkAboutCity Council Resolution 1991-672CITY OF PLYMOUTH
RESOLUTION NO. 91-672
REDUCING DEVELOPMENT BOND
FOX RUN 5TH ADDITION (89058)
WHEREAS, in accordance with the development contract dated February 20, 1990, Lundgren
Brothers Construction, Inc., developer of Fox Run 5th Addition (89058), 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; Letter of Credit No. 8513-A is hereby reduced accordingly.
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
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 24,000
$ -0-
4,500
-0-
14,000
-0-
16,000
-0-
2,000
400
-0-
-0-
150
-0-
-0-
-0-
-0-
7.278
-0-
48
$ 67,928
$ 448
That the letter of credit required for the above items be reduced as detailed above
from $10,808 to $448 to reflect the completed work. Letter of Credit No. 8513-A 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:
11y
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$ -0- $ -0-
FURTHER BE IT RESOLVED that the street construction is accepted for continual
maintenance as of October 21, 1991 subject to the Two Year Guarantee by the developer.
The guarantee is provided by Maintenance Bond No. 0 79 36 99.
Adopted by the City Council on October 21, 1991