HomeMy WebLinkAboutCity Council Resolution 1993-798RESOLUTION NO. 93-798
REDUCING DEVELOPMENT BOND
ROCKFORD ESTATES ADDITION (93008)
WHEREAS, in accordance with the development contract dated September 20, 1993, Goff
Homes, Inc., developer of Rockford Estates Addition (93008), 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:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (3 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL AMOUNT
$ 116,160
NEW AMOUNT
$ 116,160
45,229
9,046
60,686
12,137
40,313
8,063
6,300
6,300
-0-
-0-
600
600
63,537
63,537
-0-
-0-
3,000
3,000
$ 376,124 $ 245,104
That the letter of credit required for the above items be reduced as detailed above
from $376,124 to $245,104 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:
Maintenance of Erosion
and Sediment Control Plan
Street Sweeping and Storm
Sewer Cleaning (See Grading Permit
No. 55899 for required financial
guarantees)
Cash:
Letter of Credit No• 11513:
Adopted by the City Council on December 20, 1993.
$1,000 $1,000
$20,000 $20,000
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