HomeMy WebLinkAboutCity Council Resolution 1991-771RESOLUTION NO. 91-771
REDUCING DEVELOPMENT BOND
CURTIS LAKE ADDITION (90105)
WHEREAS, in accordance with the development contract dated June 17, 1991, Blue and Gold
Company, developer of Curtis Lake Addition (90105), 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 (excluding Proj.
No's 015/011)
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
$ 83,500 $ 17,700
66,000
-0-
59,000
-0-
50,000
-0-
10,000
10,000
-0-
-0-
600
600
65,000
13,000
-0-
40.092
-0-
4.956
$ 374,192 $ 46,256
That the letter of credit required for the above items be reduced as detailed above
from $113,030 to $46,256 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 follwss
P 40 0AJ
Maintenance of Erosion
and Sediment Control Flan
Street Sweeping and storm
Sewer Cleaning (See Grading
Permit No. 42235 for required
financial guarantees)
Cash:
Letter of Credit:
$-0- $-0-
$-0- $-0-
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction
for Phase I only is accepted for continual maintenance as of December 2, 1991 subject
to the Two Year Guarantee for Phase I by the Developer per Bond No. 54-55003.
Adopted by the City Council on December 2, 1991