HomeMy WebLinkAboutCity Council Resolution 1992-021RESOLUTION NO. 92-21
REDUCING DEVELOPMENT BOND
BRIDLEWOOD FARM ADDITION (90028)
WHEREAS, in accordance with the de.elopment contract dated June 6, 1991 and Revised
September 4, 1991, U.S. Homes Corpora i.;.i, developer of Bridlewood Farm Addition
(90028), has agreed to install certain improvements fer-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:
mu$-�
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (8 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design. Administration, Inspection, As-Builts
TOTAL
$ 178,100
$ 124,670
255,700
25,570
117,900
11,790
56,300
5,630
4,600
4,600
-0-
-0-
1,200
1,200
235,000
23,500
2,000
102.096
2,000
23.875
$ 952,896
$ 222,835
That the lettir of credit required for the above items be reduced as detailed above
from $952,896 to $222,835 to reflect the completed work. Letter of Credit No. FGAC-
91028 may be reduced accordingly.
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:
UXY
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (Per Grading
Permit No. 41652)
Cash:
Letter of Credit:
$ 11000 $ 11000
$49,000 $24,500
Adopted by the City Council on January 6, 1992.
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