HomeMy WebLinkAboutCity Council Resolution 1992-734RESOLUTION NO. 92-7'4
REDUCING DEVELOPMENT BOND
PARKERS WOODS ADDITION (91037)
WHEREAS, in accordance with the development contract dated June 8, 1992, Sherwood T.
Perl, developer of Parkers Woods Addition (91037), 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:
a,
Street Construction
Sanitary Sever
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (1 z 150)
Site Grading and Drainage Improvements
(Includes Required Retaining Wall)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 47,670
$ 9,534
11,490
-0-
28,760
-0-
5,300
-0-
3,200
3,200
-0-
-0-
150
150
9,000
1,800
-0-
12.668
-0-
1.762
$ 118,238 $ 16,446
That the letter of credit required for the above items be reduced as detailed above
from $118,238 to $16,446 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:
I=
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$1,300 $1,300
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction
is accepted for continual maintenance as of November 16, 1992 subject to the Two Year
Guarantee by the Developer.
Adopted by the City Council on November 16, 1992