HomeMy WebLinkAboutCity Council Resolution 1993-526RESOLUTION NO. 93-526
REDUCING DEVELOPMENT BOND
SUGAR HILLS ADDITION (92056)
WHEREAS, in accordance with the development contract dated October 21, 1992, Eugene
R. Forbragd and Darlene R. Forbragd, developer of Sugar Hills Addition (92056), 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:
4 • • ,_tip �� � 1
Street Construction (except
City Proj. No. 301)
$ 51,235
$ 20,000
Restoration Vicksburg Lane/37th Ave.
9,280
-0-
Sanitary Sewer
28,595
5,719
Watermain
21,595
4,319
Storm Sewer
24,435
4,887
Watermain/Storm Sewer Vicksburg Ln./37th Ave.
9,007
1,801
Boulevard and Drainage Swale Sod
2,600
2,600
Pond or Ditch Construction
-0-
-0-
Street Signs (2 x 150)
300
300
Site Grading and Drainage Improvements
25,720
5,144
Park and Trail Improvements
-0-
-0-
Design, Administration, Inspection, As-Builts
20,732
5,372
Setting Iron Monuments
2.500
2.500
TOTAL
$ 195,999
$ 52,642
That the letter of credit required for the above items be reduced as detailed above
from $195,999 to $52,642 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:
LG�411D ON: v • 1 �l r • 1
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash: $1,000 $1,000
Letter of Credit: $3,100 $3,100
Adopted by the City Council on September 13, 1993.
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