HomeMy WebLinkAboutCity Council Resolution 1993-425RESOLUTION NO. 93-425
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS STH 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:
ITE ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 53,400 $ 10,680
Sanitary Sewer (excluding City Proj. No. 206) 24,000 4,800
Watermain (excluding City Proj. No. 206) 19,800 3,960
Storm Sewer 21,400 4,280
Boulevard and Drainage Swale Sod 3,400 3,400
Pond or Ditch Construction -0- -0-
Street Signs (0) -0- -0-
Site Grading and Drainage Improvements -0- -0-
Park and Trail Improvements 7,200 1,440
Setting Iron Monuments 2,000 1,000
Design, Administration, Inspection, As-Builts 15.504 3.427
TOTAL $ 146,704 $ 32,987
That the letter of credit required for the above items be reduced an detailed above
from $88,285 to $32,987 to reflect the completed work. Letter of Credit No. 930526-1A
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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $-0- $-0-
Letter of Credit; $-0- $-0-
Adopted by the City Council on August 2, 1993.
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