HomeMy WebLinkAboutCity Council Resolution 1993-529i
RESOLUTION NO. 93-529
REDUCING DEVELOPMENT BOND
SEVEN PONDS THIRD ADDITION (92005)
WHEREAS, in accordance with the development contract dated March 9, 1992, Hans Hagen
Homes, Inc., developer of Seven Ponds Third Addition (92005), 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 ORIGINAL
Street Construction $
AMOUNT NEW
99,500 $
AMOUNT
19,900
Sanitary Sewer
50,000
-0-
Watermain
54,400
-0-
Storm Sewer
21,900
-0-
Boulevard and Drainage Swale Sod
5,600
2,400
Pond or Ditch Construction
-0-
-0-
Street Signs (2 x 150)
300
300
Site Grading and Drainage Improvements
45,000
4,500
( Park and Trail Improvements
-0-
-0-
Design, Administration, Inspection, As-Builts
33.204
3.216
TOTAL $
309,904 $
30,016
That the letter of credit required for the above items
be reduced as detailed above
from $38,976 to $30,016 to reflect the completed work.
Letter of Credit
No. 5401394
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:
ITEM ORIGINAL
Maintenance of Erosion
AMOUNT NEW
AMOUNT
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 43816)
Cash:
$-0-
$-0-
Letter of Credit:
$-0-
$-0-
Adopted by the City Council on September 13, 1993.
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