HomeMy WebLinkAboutCity Council Resolution 1993-719RESOLUTION NO. 93-719
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 10TH ADDITION (93067)
WHEREAS, in accordance with the development contract dated July 12, 1993, Laukka-
Williams Parkers Lake, developer of Parkers Lake North 10th Addition - Ashburne Area
(93067), has agreed to install certain improvements for said development; -I..d
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:
yy�l
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Drainage Pond Construction
Mitigation Pond Construction
Street Signs (1 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
Vi0l0!
ORIGINAL AMOUNT
$ 44,986
NEW AMOUNT
$ 44,986
22,440
22,440
83,703
74,796
12,638
12,638
-0-
-0-
-0-
-0-
-0-
-0-
200
200
53,075
14,861
-0-
-0-
1,500
1,500
$ 244,767 $ 191,991
That the letter of credit required for the above items be reduced as detailed above
from $244,767 to $191,991 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:
ITEM
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit
No. 54682 for required financial
guarantee)
Cash:
Letter of Credit:
Adopted by the City Council on November 1, 1993.
$1,000 $1,000
$23,000 $23,000
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