HomeMy WebLinkAboutCity Council Resolution 1991-772RESOLUTION NO. 91-772
REDUCING DEVELOPMENT BOND
RIDGECREST 2ND ADDITION (A-774)
WHEREAS, in accordance with the development contract dated February 5, 1982, Nick M.
Loscheider Construction, Inc., developer of Ridgecrest 2nd Addition (A-774), 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:
ORIGINAL
AMOUNT
NEW AMOUNT
Street Construction
$ -0-
$ -0-
Sanitary Sewer
-0-
-0-
Watermain
-0-
-0-
Storm Sewer
-0-
-0-
Boulevai:d and Drainage Swale Sod
2,400
-0-
Pond o; Ditch Construction
500
-0-
Street Signs
-0-
-0-
Street Sweeping and Storm Sewer Cleaning
1,000
-0-
Park and Trail Improvements
-0-
-0-
Site Grading and Drainage Improvements
-0-
-0-
Maintenance of Erosion 6 Sediment Control Plan
1,000
-0-
Design, Administration, Inspection, As-Builts
588
TOTAL
$ 5,488
$ -0-
That the letter of credit be reduced from $2,600 to $0 (zero) to reflect the completed
work. The developer has previously placed funds in a savings account assigned to the
city. The remaining funds shall be returned to the developer forthwith.
Adopted by the City Council on December 2, 1991
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