HomeMy WebLinkAboutCity Council Resolution 1993-738•
RESOLUTION NO. 93-738
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:
I= ORIGINAL
AMOUNT
NEW AMOUNT
Street Construction $
118,000
$ 118,000
Sanitary Sever
126,500
75,900
Watermain (Excluding $32,000 for 18'
74,100
74,100
Watermain along Vicksburg Lane)
Storm Sewer
85,200
76,680
Boulevard and Drainage Swale Sod
5,200
5,200
Mitigation Pond Construction
40,000
8,000
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
226,000
45,200
Park and Trail Improvements
13,000
13,000
Setting Iron Monuments
4,000
4,000
Design, Administration, Inspection, As-Builts
83.088
50.458
TOTAL $
775,488
$ 470,938
That the letter of credit required for the above items
remain as
detailed above at
$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;
I= ORIGINAL
AMOUNT
NEW AMOUNT
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
$1,000
$1,000
Letter of Credit No. 8513-U:
$35,000
$17,500
Adopted by the City Council on November 15, 1993.
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