HomeMy WebLinkAboutCity Council Resolution 1993-561RESOLUTION N0. 93-561
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 8TH ADDITION (92071)
WHEREAS, in accordance with the development contract dated September 23, 1992,
Laukka-Williams Parkers Lake, developer of Parkers Lake North 8th Addition
(92071), 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:
Lai �-in fumv :_4g :4LI\
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (3 z 150)
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
Setting Iron Monuments
TOTAL
$ 65,681
$ 26,498
28,721
5,744
31,470
6,294
-0-
-0-
2,100
2,100
-0-
-0-
450
450
12,400
2,480
240
-0-
16,927
5,228
$ 160,389 $ 51,194
That the letter of credit required for the above items be reduced as detailed
above from $160,389 to $51,194 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:
5M
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on September 20, 1993
$1,000 $1,000
$5,600 $5,600
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