HomeMy WebLinkAboutCity Council Resolution 1993-703RESOLUTION NO. 93-703
REDUCING DEVELOPMENT BOND
AUTUMN HILLS ADDITION (92060)
WHEREAS, in accordance with the development contract dated August 30, 1993, Lundgren
Bros. Construction, Inc., developer of Autumn Hills Addition (92060), 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 (Excluding $32,000 for 18°
Watermain along Vicksburg Lane)
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
$ 118,000
$ 118,000
126,500
75,900
74,100
74,100
85,200
76,680
5,200
5,200
40,000
8,000
400
400
226,000
45,200
13,000
13,000
4,000
83.088
4,000
50.458
$ 775,488 $ 470,938
That the letter of credit required for the above items be reduced as detailed above
from $775,488 to $470,938 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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 8513-U:
Adopted by the City Council on November 1, 1993.
$1,000 $1,000
$35,000 $35,000