HomeMy WebLinkAboutCity Council Resolution 1992-570RESOLUTION NO. 92-570
REDUCING DEVELOPMENT BOND
BRIDLEWOOD FARM 2ND ADDITION (92037)
WHEREAS, in accordance with the development contract dated June 5, 1992, U.S. Home
Corporation, developer of Bridlewood Farm 2nd Addition (92037), has agreed to install
certain improvements for said development; and
WHEREAS, the developer has co,pleted 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 Proj. 206)
Sanitary Sewer (Excluding Proj. 206)
Watermain (Excluding Proj. 206)
Storm Sewer (Excluding Proj. 206)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (4 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ -0-
$ -0-
-0-
-0-
-0-
-0-
-0-
-0-
17,400
17,400
-0-
-0-
600
600
333,000
15,000
-0-
42.120
-0-
3.960
$ 393,120
$ 36,960
That the letter of credit required for the above items be reduced as detailed above
from $393,120 to $36,960 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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on September 21, 1992
•: (011 R
See Grading Permit No. 46670
See Grading Permit No. 46670