HomeMy WebLinkAboutCity Council Resolution 1992-018CITY OF PLYMOUTH
RESOLUTION NO. 92-18
REDUCING DEVELOPMENT BOND
LAKE CAMELOT ESTATES 3RD ADDITION (89044)
WHEREAS, in accordance with the development contract dated January 30, 1990, The
Rottlund Company, Inc., developer of Lake Camelot Estates 3rd Addition (89044), 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:
KTD7111,
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
ORIGINAL. AMOUNT
$ 134,982
NEW AMOUNT
$ 20,668
18,544
-0-
55,513
-0-
23,920
-0-
6,270
-0-
-0-
-0-
300
-0-
1-72,900
-0-
-0-
-0-
A9.4?.j
2.480
$ 461,920
$ 23,148
That Letter of Credit No. 3208 required for the above items be reduced as detailed
above from $95,878 to $23.148 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:
Z-
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$55,200 $5,000
Adopted by the City Council on January 6, 1992ZO'�'