HomeMy WebLinkAboutCity Council Resolution 1992-389RESOLUTION NO. 92-s89
REDUCING DEVELOPMENT BOND
CURTIS LAKE SECOND ADDITION (91101)
WHEREAS, in accordance with the development contract dated December 9, 1991, Blue and
Gold Company, developer of Curtis Lake Second Addition (91101), 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 (Excluding City Proj.
No's 015/011)
Sanitary Sewer (Excluding City Proj.
No's 015/011)
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (1 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 80,000 $ 80,000
38,000 7,600
40,000
8,000
16,000
3,200
5,800
5,800
-0-
-0-
150
150
See
File No 90105
-0-
21.594
-0-
12.570
$ 201,544 $ 117,320
That the letter of credit required for the above items be reduced as detailed above
from $201,544 to $117,320 to reflect the completed work. Letter of Credit No. 2811 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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading
Permit No. 42235 for Required
Financial Guarantees.)
Cash:
Letter of Credit:
Adopted by the City Council on July 6, 1992
$-0- $-0-
$-0- $-0-