HomeMy WebLinkAboutCity Council Resolution 1992-396RESOLUTION NO. 92-396
REDUCING DEVELOPMENT BOND
CARLSON COMPANIES SECOND ADDITION (A-710)
WHEREAS, in accordance with the development contract dated August 17, 1979, Carlson
Properties, Inc., developer of Carlson Companies Second Addition (A-710), 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:
IT
Street Construction
ORIGINAL AMOUNT
$ 100,300
NEW AMOUNT
$ -0-
Sanitary Sewer
25,400
-0-
Watermain
54,700
-0-
Storm Sewer
34,300
-0-
Boulevard Sod
3,000
-0-
Pond or Ditch Construction
6,000
-0-
Street Signs
300
-0-
Street Sweeping and Storm Sewer Cleaning
1,000
-0-
Erosion Control
2,000
-0-
Site Grading
95,000
-0-
Landscaping
17.000
-0-
TOTAL
$ 339,000
$ -0-
That the letter of credit required be reduced from $232,900 to $0 (Zero) to reflect the
completed work. Bond No. 610-0918786-264 is hereby reduced to $0 (Zero) and will be
released by the Finance Department.
Adopted by the City Council on July 6, 1992