HomeMy WebLinkAboutCity Council Resolution 1993-339RESOLUTION NO. 93-339
REDUCING DEVELOPMENT BOND
CURTIS LAKE SECOND ADDITION (91101)
WHEREAS, in accordance with the development contract dated December 9, 1991, Blue and
Gold Company, developer of Curtis Lake Second Addition (91101), 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:
0
Street Construction
Sanitary Sewer
(Excluding City Proj
No's 015/011)
(Excluding City Proj
No's 015/011)
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (1 x 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 80,000 $ 16,000
38,000 -0-
40,000
-0-
16,000
-0-
5,800
5,000
-0-
-0-
150
150
See File
No 90105
-0-
21.594
-0-
2.538
$ 201,544 $ 23,688
That the letter of credit required for the above items be reduced as detailed above
from $24,584 to $23,688 to reflect the completed work. Letter of Credit No. 2811 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:
0"
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading
Permit No. 42235 for Required
Financial Guarantees.)
Cash:
Letter of Credit:
$1,000 $1,000
$54,800 $13,700
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at
$1,000 cash with Letter of Credit No. 2787 being reduced from $54,800 to $13,700.
Adopted by the City Council on June 21, 1993
y