HomeMy WebLinkAboutCity Council Resolution 1992-692RESOLUTION NO. 92-69'
REDUCING DEVELOPMENT BOND
PINS CREEK ADDITION (92020)
WHEREAS, in accordance with the development contract dated July 6, 1992, Michael W.
Siskin and Vicki Ratzovitz Siskin. developer of Pine Creek Addition (92020), 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:
3r
Street Construction
Sanitary Sewer
Watermain
Storer Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Street Signs (1 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 25,600
NEW AMOUNT
$ 6,300
19,100
-0-
14,500
11000
5.500
-0-
2,400
2,400
81000
1,600
150
150
27,000
5,400
-0-
-0-
12.270
2.022
$ 114,520 $ 18,872
That the letter of credit required for the above items be reduced as detailed above
from $26,398 to $18.872 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:
0
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit (Cash was substituted):
$1,000 $1,000
$ 500 $ 500
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction
is accepted for continual maintenance as of November 2, 1992 subject to the two year
guarantee per Maintenance Bond No. S168758 and the insulation of the watermain wet tap
connection at Sunset Trail during the spring of 1993.
Adopted by the City Council on November 2. 1992.