HomeMy WebLinkAboutCity Council Resolution 1992-017RESOLUTION NO. 92-17
REDUCING DEVELOPMENT BOND
DEER POND ADDITION (89106)
WHEREAS, in accordance with the development contract dated May 1, 1991, Lowry Hill
Construction Company. developer of Deer Pond Addition (89106), 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
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swa' Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 2,990
$ 2,990
7,600
-0-
7,510
-0-
-0-
-0-
4,125
4,125
-0-
-0-
-0-
-0-
5,920
5,920
6,300
4.133
6,300
2.320
$ 38,578
$ 21,655
That the letter of credit required for the above items be reduced as detailed above
from $38,578 to $21,655 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 follows:
0
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$2,600 $2,600
FURTHER BE IT RESOLVED that the sanitary sewer and watermain construction is accepted
for continual maintenance as of January 6, 1992 subject to the Two Year Guarantee by
the Developer.
Adopted by the City Council on January 6, 1992. ,�(G / t -'e -r