HomeMy WebLinkAboutCity Council Resolution 1991-674CITY OF PLYMOUTH
RESOLUTION NO. 91-674
REDUCING DEVELOPMENT BOND
OXBOW RIDGE 2ND ADDITION (90077)
WHEREAS, in accordance with the development contract dated September 24, 1990, Richard
J. Deziel and Irene T. Deziel, developers of Oxbow Ridge 2nd Addition (90077), have
agreed to install certain improvements for said development; and
WHEREAS, the developers have completed a portion of the street, utility and site
grading as noted below; and
WHEREAS, the developers have 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:
MP ",
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
$ 7,600
$ 1,520
3,700
-0-
3,900
-0-
4,700
-0-
600
600
-0-
-0-
150
-0-
6,300
-0-
-0-
-0-
$ 30,184 $ 2,374
That the letter of credit required for the above items be reduced as detailed above
from $5,130 to $2,374 to reflect the completed work. In this instance a certificate of
deposit has been provided in lieu of a letter of credit.
FURTHER BE IT RESOLVED that the bonding requirements for the following items per
Section 8.1 of the approved development contract be reduced as follower
0
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cashr
Letter of Credit:
$1,000 $1,000
$ -0- $ -0-
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction
is accepted for continual maintenance as of October 21, 1991, subject to the Two Year
Guarantee by the Developer per Bond No. 54-48098.
Adopted by the City Council on October 21, 1991.