HomeMy WebLinkAboutCity Council Resolution 1992-673CITY OF PLYMOUTH
RESOLUTION NO. 92-673
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS ADDITION (90009)
WHEREAS, in accordance with the development contract dated June 14, 1991, Lundgren
Brothers Construction, Inc., developer of Churchill Farms Addition (90009), 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:
WNIV
Street Construction
Co. Rd. 24 Turn Lane
Sanitary Sewer
Watermain
Storm Sewer (Does Not Include Proj. No. 016)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
•; xa A :Me
$ 136,500
$ -0-
19,980
-0-
84,700
-0-
67,000
-0-
53,600
-0-
8,000
2,000
-0-
-0-
750
-0-
114,900
-0-
5,500
-0-
$ 549,842 $ 2,240
That the letter of credit required for the above items be reduced as detailed above
from $45,696 to $2,240 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:
KT -17
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$27,400 $5,480
FURTHER BE IT RESOLVED that the street construction, concrete curb and gutter, and
trail construction is accepted for continual maintenance as of October 26, 1992 subject
to the two year guarantee by the developer per Maintenance Bond No. 54051531.
Adopted by the City Council on October 26, 1992