HomeMy WebLinkAboutCity Council Resolution 1993-527RESOLUTION NO. 93-527
REDUCING DEVELOPMENT BOND
CURTIS LAKE SECOND ADDITION (91101)
WHEREAS, in accordance with the development contract dated December 9, 1991, Blue
and Red 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 (Excluding City Proj.
No's 015/011)
Sanitary Sewer (Excluding City Proj.
Nos. 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
ORIGINAL AMOUNT
NEW AMOUNT
$ 80,000
$ -0-
38,000
-0-
40,000
-0-
16,000
-0-
5,800
5,800
-0-
-0-
150
150
See File No.
90105
-0-
-0-
21.595
714
$ 201,545 $ 6,664
That the letter of credit required for the above items be reduced as detailed above
from $24,584 to $6,664 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:
�4
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$-0- $-0-
$-0- $-0-
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is
accepted for continual maintenance as of September 13, 1993 subject to the Two Year
Guarantee by the Developer per Maintenance Bond No. 54-65029.
Adopted by the City Council on September 13, 1993.
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