HomeMy WebLinkAboutCity Council Resolution 1993-765RESOLUTION NO. 93-765
REDUCING DEVELOPMENT BOND
KIMBERLY WOODS ADDITION (93018)
WHEREAS, in accordance with the development contract dated Ju;y 23, 1993, New Century
Homes, Inc., developer of Kimberly Woods Addition (93018), 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:
K5",
Street Construction (excluding Co. Rd. 9
concrete curb and gutter)
Co. Rd. 9 Bypass Lane
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Sediment/Storage Pond Construction
Street Signs (1 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
$ 24,657 $ 12,253
4,640
4,640
13,865
2,773
14,439
2,888
7,919
1,584
1,600
1,600
1,360
1,360
200
200
4,958
1,000
-0-
-0-
-0-
-0-
8.837
3,396
$ 82,475
$ 31,694
That the letter of credit required for the above items be reduced as detailed above
from $82,475 to $31,694 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:
71 y1
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 540506 for
required financial guarantees)
Cash:
Letter of Credit No. 1135-6938:
Adopted by the City Council on December 6, 1993
$1,000 $1,000
$1,000 $1,000
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