HomeMy WebLinkAboutCity Council Resolution 1993-766•
CITY OF PLYMOUTH
RESOLUTION NO. 93-766
REDUCING DEVELOPMENT BOND
CHURCHILL FARMS ADDITION (90009)
WHEREAS, in accordance with the development contract dated June 14, 1991, Lundgren
Brothers Construction, Inc., developer of Churchill Farms Addition (90009), 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:
*iM
Street Construction
Co. Rd. 24 Turn Lane
Sanitary Sewer
Watermain
Storm Sewer (Does Not Include Proj. No. 016)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
L i ; V� z4�
$ 136,500
$ -0-
19,980
-0-
84,700
-0-
67,000
-0-
53,600
-0-
8,000
-0-
-0-
-0-
750
-0-
114,900
-0-
5,500
-0-
58.912
-0-
$ 549,842
$ -0-
That the letter of credit required for the above items be reduced as detailed above
from $2,240 to $-0- (zero) to reflect the completed work. Letter of Credit No.
91006017-1E may be reduced accordingly and will be returned by the Finance Department
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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
ORIGINAL AMOUNT NEW AMOUNT
$1,000 $-0-
$27,400 $-0-
FURTHER BE IT RESOLVED that the remaining funds of the $1,000 cash deposit will be
returned to the developer and Letter of Credit No. 9106017.18 is hereby reduced from
$5,480 to $0 (zero) and will be returned by the Finance Department.
Adopted by the City Council on December 6, 1993.