HomeMy WebLinkAboutCity Council Resolution 1993-740RESOLUTION NO. 93-740
REDUCING DEVELOPMENT BOND
SUGAR HILLS 2ND ADDITION (93084)
WHEREAS, in accordance with the development contract dated September 7, 1993, Eugene R.
Forbragd and Darlene R. Forbragd, developer of Sugar Hills 2nd Addition (93084), 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:
0*01l
Street Construction (Excluding City Proj.
No's 308 i 310)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Drainage Pond Construction
Mitigation Pond Construction
Street Signs (5 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
;IGINAL AMOUNT NEW AMOUR
$ 306,000 $ 250,000
125,000
25,000
116,000
23,200
138,000
27,600
11,000
11,000
-0-
-0-
33,500
6,700
1,000
1,000
141,500
28,300
-0-
-0-
3,000
3,000
$ 980,000 $ 420,896
That the letter of credit required for the above items be reduced as detailed above
from $980,000 to $420,896 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:
0
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on November 15, 1993.
$1,000 $1,000
$20,750 $20,750