HomeMy WebLinkAboutCity Council Resolution 1993-204RESOLUTION NO. 93-204
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 7TH ADDITION (91103)
WHEREAS, in accordance with the development contract dated December 10, 1991, Laukka-
Williams Parker- Lake, A Minnesota General Partnership, developer of Parkers Lake North
7th Addition (91103), 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:
Wmv
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (3 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 188,900
$ 37,780
26,900
5,380
103,800
20,760
93,100
18,620
11,000
11,000
-0-
-0-
450
450
241,300
24,130
17,574
17,574
$ 764,987 $ 151,977
That the letter of credit required for the above items be reduced as detailed above
from $339,031 to $151,977 to reflect the completed work. Letter of Credit No. S401353
may be 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:
M�
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning: See Grading
Permit No. 45459 for required
financial guarantee. NOTE: This
grading permit was finaled out by the
Building Department on April 23, 1992.
Cash:
Letter of Credit:
Adopted by the City Council on April 19, 1993.
$-0- $-0-
$-0- $-0-
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