HomeMy WebLinkAboutCity Council Resolution 1992-433CITY OF PLYMOUTH
RESOLUTION NO. 92-433
REDUCING DEVELOPMENT BOND
DEERWOOD TRAIL ADDITION (88016)
WHEREAS, in accordance with the development contract dated September 1, 1988, Edward T.
Johnston and Evonne L. Johnston, developer of Deerwood Trail Addition (88016), 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 ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 56,000 $ -0-
Sanitary Sewer 17,000 -0-
Watermain 17,100 -0-
Storm Sewer 25,700 -0-
Boulevard and Drainage Swale Sod 4,400 3,000
Pond or Ditch Construction -0- -0-
Street Signs -0- -0-
Site Grading and Drainage Improvements 30,600 -0-
Park and Trail Improvements -0- -0-
Design, Administration, Inspection, As-Builts 18.096 360
TOTAL $ 168,896 $3,360
That the letter of credit required for the above items be reduced as detailed above
from $4,480 to $3,360 to reflect the completed work. Letter of Credit No. 2938 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
Cash: $ 11000 $1,000
Letter of Credit: $16,400 $2,000
',—, Adopted by the City Council on July 20, 1992