HomeMy WebLinkAboutCity Council Resolution 1991-675CITY OF PLYMOUTH
RESOLUTION NO. 91-675
REDUCING DEVELOPMENT BOND
STEEPLECHASE 7TH ADDITION (90008)
WHEREAS, in accordance with the development contract dated February 20, 1990, Lundgren
Brothers Construction, Inc., developer of Steeplechase 7th Addition (90008), 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:
KP7111
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
$ 24,500
$ -0-
14,000
-0-
13,500
-0-
-0-
-0-
2,400
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
6.528
-0-
-0-
$ 60,928
$
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $8,848 to $0 (zero) to reflect the completed work. Letter of Credit No. 8513-8 is
hereby reduced accordingly and will be released by the Finance Department.
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:
VAY
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
cash:
Letter of Credit:
$1,000 $-0-
$ -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 98.
Adopted by the City Council on October 21, 1991
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