HomeMy WebLinkAboutCity Council Resolution 1992-792CITY OF PLYMOUTH
RESOLUTION NO. 92-792
REDUCING DEVELOPMENT BOND
HAWTHORNE PLACE ADDITION (90006)
WHEREAS, in accordance with the development contract dated May 30, 1990, Eider.
Construction, Inc., developer of Hawthorne Place Addition (90006), 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:
Street Construction (includes 8th Ave. N.)
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
$ 24,000
$ 2,400 *
14,000
1,400 *
12,000
1,200 *
10,000
1,000 *
2,600
-0-
-0-
-0-
150
-0-
44,000
-0-
-0-
12.810
-0-
-0-
$ 119,560
$ 6,000
That the letter of credit required for the above items be reduced as detailed above
from $6,944 to $6,000 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:
5v�
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $ -0-
$6,000 $ -0-
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, storm sewer and street
construction including concrete curb and gutter is accepted for continual maintenance
as of December 7, 1992 subject to the One Year Guarantee by the developer.
* FURTHER BE IT RESOLVED that pursuant to the developer's request, a 102 retainer will
be held in the required development bond for the sanitary sewer, watermain, storm
sewer, street construction, and concrete curb and gutter in lieu of the required
maintenance bond.
Adopted by the City Council on December 7, 1992