HomeMy WebLinkAboutCity Council Resolution 1993-704•
RESOLUTION NO. 93- 704
REDUCING DEVELOPMENT BOND
CURTIS LAKE SECOND ADDITION (91101)
I
WHEREAS, in accordance with the development contract dated December
9, 1991, Blue
and Red Company, developer of Curtis Lake Second Addition (91101),
has agreed to
install certain improvements for said development; and
WHEREAS, the developer ha: 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:
ITS ORIGINAL AMOUNT NEW
AMOUNT
Street Construction (Excluding City Proj. $ 801000
$ -0-
No's 015/011)
Sanitary Sewer (Excluding City Proj. 38,000
-0-
Nos. 015/011)
Watermain 40,000
-0-
Storm Sewer 16,000
-0-
Boulevard and Drainage Swale Sod 5,800
2,600
Pond or Ditch Construction -0-
-0-
Street Signs (1 x 150) 150
-0-
Site Grading and Drainage Improvements See File No. 90105
Park and Trail Improvements -0-
-0-
Design, Administration, Inspection, As-Builts 21.595
1.000
TOTAL $ 201,545
$3,600
That the letter of credit required for the above items be reduced as detailed
above
from $6,664 to $3,600 to reflect the completed work. Letter of Credit
No. 2811 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
Cash: $-0-
$-0-
Letter of Credit: $-0-
$-0-
Adopted by the City Council on November 1, 1993.