HomeMy WebLinkAboutCity Council Resolution 1992-393CITY OF PLYMOUTH
RESOLUTION NO. 92-393
REDUCING DEVELOPMENT BOND
LAKE PARK HEIGHTS ADDITION (85089)
WHEREAS, in accordance with the development contract dated June 6, 1986, Graham
Development Company, developer of Lake Park Heights Addition (85089), 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
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Landscaping
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 59,100
NEW AMOUNT
$ -0-
26,563
-0-
29,801
-0-
9,595
-0-
3,400
-0-
-0-
-0-
150
-0-
50,000
-0-
300
-0-
1,810
21.469
-0-
-0-
$ 202,188
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $1,810 to $0 (zero) 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:
ITEM
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning Cash:
Letter of Credit:
Adopted by the City Council on July 6, 1992
ORIGINAL AMOUNT NEW AMOUNT
$ 11000 $ -0-
$14,700 $ -0-