HomeMy WebLinkAboutCity Council Resolution 1993-5300
RESOLUTION NO. 93- 530
REDUCING DEVELOPMENT BOND
SEVEN PONDS FOURTH ADDITION (92017)
WHEREAS, in accordance with the development contract dated April 22,
1992, Hans Hagen
Homes, Inc., developer of Seven Ponds Fourth Addition (92017), has
agreed to install
certain improvements fog 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:
ITE il ORIGINAL AMOUNT NEW AMOUNT
Street Construction $ 49,000 $ 91800
Sanitary Sewer 25,100
-0-
Watermain 23,500
-0-
Storm Sewer 11,200
-0-
Boulevard and Drainage Swale Sod 4,000
2,000
Pond or Ditch Construction -0-
-0-
Street Signs (1 x 150) 150
-0-
Site Grading and Drainage Improvements 20,000
2,000
Park and Trail Improvements -0-
-0-
Design, Administration, Inspection, As-Builts 15.954
1.656
TOTAL $ 148,904 $
15,456
That the letter of credit required for the above items be reduced as detailed
above
from $20,104 to $15,456 to reflect the completed work. Letter of Credit
No. 5401477
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:
I = ORIGINAL AMOUNT NEW
AMOUNT
Maintenance of Erosion
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.