HomeMy WebLinkAboutCity Council Resolution 1992-742CITY OF PLYMOUTH
RESOLUTION NO. 92--4-2
REDUCING DEVELOPMENT BOND
QUAIL RIDGE OF PLYMOUTH 4TH ADDITION (87134)
WHEREAS, in accordance with the development contract dated July 18, 1988, Cenvesco,
Inc., developer of Quail Ridge of Plymouth 4th Addition (87134), 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:
7.
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements (See
Grading Permit No. 12929)
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 74,360
$ -0-
46.969
-0-
44,515
-0-
7,740
-0-
7,200
-0-
-0-
-0-
300
-0-
-0-
-0-
-0-
21.730
-0-
-0-
$ 202,814
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $8.400 to $0 (zero) to reflect the completed work. Letter of Credit No. S009712
is reduced accordingly 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:
ITF -i
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Cash:
Permit for financial requirements)
-- Adopted by the City Council on November 16, 1992
ORIGINAL AMOUNT NEW AMOUNT
$1,000 $1,000
$-0- -0-