HomeMy WebLinkAboutCity Council Resolution 1993-623RESOLUTION NO. 93-b23
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH STH 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:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (3 x 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
-0-
31,470
-0--
-0-
-0-
2,100
2,100
-0-
-0-
450
450
12.400
-0-
240
-0-
16,927
3,486
$ 160,389 $ 34,934
That the letter of credit required for the above items be reduced as detailed
above from $51,194 to $34,934 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:
71y
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$5,600 $5,600
FURTHER BE IT RESOLVED that the sanitary sewer and watermain construction is
accepted for continual maintenance as of October 4, 1993 subject to the Two
Year Guarantee by the Developer per Maintenance Bond No. 7587676.
Adopted by the City Council on October 4, 1993