HomeMy WebLinkAboutCity Council Resolution 1992-736CITY OF PLYMOUTH
RESOLUTION NO. 92--36
REDUCING DEVELOPMENT BOND
FAWN CREEK ADDITION (90022)
WHEREAS, in accordance with the development contract dated September 24, 1990, Dennis
E. Arne and Ferne E. Arne, developers of Fawn Creek Addition (90022), have 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:
Street Construction
Sanitary Sever
Watermain
Storm Sewer
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
$ 119,600
$ -0-
77,700
-0-
69,700
-0-
71,400
-0-
7,000
2,000
-0-
-0-
300
-0-
52,300
-0-
-0-
47.760
-0-
240
$ 445,760
$ 2,240
That the letter of credit required for the above items be reduced from $33,510 to
$2,240 to reflect the completed work. The letter of credit is hereby 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
Sever Cleaning
Cash:
Letter of Credit:
* See Grading Permit No. 26689
$ 1,000* $ 1,000*
$20,000* $ -0-*
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of November 16, 1992 subject to the One Year
Guarantee by the Developer.
Adopted by the City Council on November 16, 1992