HomeMy WebLinkAboutCity Council Resolution 1993-203RESOLUTION NO. 93-203
REDUCING DEVELOPMENT BOND
GREENWOOD PONDS ADDITION (91057)
WHEREAS, in accordance with the development contract dated June 16, 1992,
Three Star Trucking and Thomas Fisher, developer of Greenwood Ponds Addition
(91057), 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:
ITEM
ORIGINAL
AMOUNT
HN
AMOUNT
Street Construction
$ 41,842
$ 8,368
Sanitary Sewer
18,900
3,780
Watermain
19,500
3,900
Storm Sewer (excluding City Project No. 016)
6,300
1,260
Boulevard and Drainage Swale Sod
2,000
2,000
Pond or Ditch Construction
-0-
-0-
Street Signs (2 x 150)
300
300
Site Grading and Drainage Improvements
50,000
12,500
Park and Trail Improvements
1,320
1,320
Design, Administration, Inspection, As-Builts
16.819
4.011
TOTAL
$ 156,981
$ 37,439
That the letter of credit required for the above items be reduced as detailed
above from $156,981 to $37,439 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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Letter of Credit: $9,400 $9,400
Adopted by the City Council on April 19, 1993
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