HomeMy WebLinkAboutCity Council Resolution 1992-737CITY OF PLYMOUTH
RESOLUTION NO. 92 -73 -
REDUCING DEVELOPMENT BOND
OXBOW RIDGE 2ND ADDITION (90077)
WHEREAS, in accordance with the development contract dated September 24, 1990, Richard
J. Deziel and Irene T. Deziel, developers of Oxbow Ridge 2nd Addition (90077), have
agreed to install certain improvements for said development; and
WHEREAS, the developers have completed a portion of the street, utility and site
grading as noted below; and
WHEREAS, the developers have 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:
Poo;
Street Construction
Sanitary Sewer
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
$ 7,600
$ -0-
3,700
-0-
3,900
-0-
4,700
-0-
600
-0-
-0-
-0-
150
-0-
6,300
-0-
-0-
3.234
-0-
-0-
$ 30,184
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $2,374 to $0 (zero) to reflect the completed work. In this instance Certificate
of Deposit No. 410 1240127 has been provided in lieu of a letter of credit and will be
returned by the Finance Department.
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:
VDIM
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$ -0- $ -0-
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of November 6, 1991, subject to the One Year
Guarantee by the Developer per Bond No. 54-48098.
Adopted by the City Council on November 16, 1992.