HomeMy WebLinkAboutCity Council Resolution 1993-426RESOLUTION NO. 93-426
REDUCING DEVELOPMENT BOND
SUNSET VALLEY HOMES SECOND ADDITION (91051)
WHEREAS, in accordance with the development contract dated August 22, 1991, Sunset
Valley Homes, Inc. developer of Sunset Valley Homes Second Addtion (91051), 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:
yam;
Street Construction
Bituminous Curb - Sunset Trail
Sanitary Sewer
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
ORIGINAL AMOUNT
$ 21,330
NEW AMOUNT
$ 15,000
2,145
2,145
14,010
-0-
13,345
-0-
3,600
720
2,000
2,000
-0-
-0-
150
150
40,000
4,000
-0-
-0-
$ 108,170 $ 26,897
That the letter of credit required for the above items be reduced as detailed above
from $108,170 to $26,897 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:
�69;41�1
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. MBP0323881:
$1,000 $1,000
$19,000 $5,000
FURTHER BE IT RESOLVED that the sanitary sewer, watermain and storm sewer construction
is accepted for continual maintenance as of August 2, 1993 subject to the Two Year
Guarantee by the Developer per Maintenance Bond No. 7587652.
Adopted by the City Council on August 2, 1993