HomeMy WebLinkAboutCity Council Resolution 1992-022CITY OF PLYMOUTH
RE„JLUTION NO. 92-22
REDUCING DEVELOPMENT BOND
BAY POINTE ON MOONEY LAKE ADDITION (89005)
WHEREAS, in accordance with the development contract• dated February 26, 1990, and
revised October 1, 1990, Lundgren Brothers Construction, Inc., developer of Bay Pointe
on Mooney Lake (89005), 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 Swale Sod
Dock and Boat Rack
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Building Demolition
Design, Administration, Inspection, As-Builts
TOTAL
$ 170,700
$ -0-
79,800
-0-
72,500
-0-
64,600
-0-
9,700
7,500
2,600
-0-
450
-0-
188,400
-0-
16,000
-0-
10,500
73.830
-0-
900
$ 689,080
$ 8,400
That the letter of credit required for the above items remain as detailed above at
$8,400 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:
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Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $ 11000
$47,400 $ 9,495
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Adopted by the City Council on January 6, 1992 C� J •GSC. f�
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