HomeMy WebLinkAboutCity Council Resolution 1993-281RESOLUTION NO. 93- 281
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS 5TH ADDITION (93005)
WHEREAS, in accordance with the development contract dated February 2, 1993, Lundgren
Bros. Construction, Inc., developer of Churchill Farms 5th Addition (93005), 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
Sanitary Sewer (excluding City Proj. No. 206)
Watermain (excluding City Proj. No. 206)
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (0)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
e) *14 kel \: : V a 1 \I i V I1XIA
$ 53,400
$ 53,400
24,000
4,800
19,800
3,960
21,400
4,280
3,400
3,400
-0-
-0-
-0-
-0-
-0-
-0-
7,200
7,200
2,000
15.504
2,000
9.245
$ 146,704 $ 88,285
That the letter of credit required for the above items be reduced as detailed above
from $146,704 to $88,285 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:
Letter of Credit:
Adopted by the City Council on May 17, 1993.
$-0- $-0-
$-0- $-0-