HomeMy WebLinkAboutCity Council Resolution 1993-525RESOLUTION NO. 93-S2S
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:
ITEM
Street Construction
ORIGINAL AMOUNT
$ 53,400
NEW AMOUNT
$ 10,680
Sanitary Sewer (excluding City Proj. No. 206)
24,000
-0-
Watermain (excluding City Proj. No. 206)
19,800
-0-
Storm Sewer
21,400
-0-
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
-0-
Setting Iron Monuments
2,000
1,000
Design, Administration, Inspection, As-Builts
15.504
1.690
TOTAL
$ 146,704
$ $16,770
That the letter of credit required for the above items be reduced as detailed above
from $88,285 to $16,770 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-
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction
is accepted for continual maintenance as of September 13, 1993 subject to the Two Year
Guarantee by the Developer.
Adopted by the City Council on September 13, 1993.
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