HomeMy WebLinkAboutCity Council Resolution 1994-013RESOLUTION NO. 94-13
REDUCING DEVELOPMENT BOND
PARKERS LAKE NORTH 10TH ADDITION (93067)
WHEREAS, in accordance with the development contract dated dated July 12, 1993, Laukka-Williams
Parkers Lake, developer of Parkers Lake North 10th Addition - Ashburne Area (93067), 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:
ITEM
ORIGINAL
NEW
AMOUNT
AMOUNT
Street Construction
$ 44,986
$13,936
Sanitary Sewer
22,440
4,488
Watermain
83,703
18,688
Storm Sewer
12,638
2,528
Boulevard and Drainage Swale Sod
-0-
-0-
Drainage Pond Construction
-0-
-0-
Mitigation Pond Construction
-0-
-0-
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
53,075
10,615
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,500
1,500
Design, Administration, Inspection, As-Builts
26.225
6,235
TOTAL
$244,767
$58,190
That the letter of credit required for the above items be reduced as detailed above from $191,991 to
$58,190 to reflect the completed work.
0 0
RESOLUTION NO. 94-13
REDUCING DEVELOPMENT BOND
PARIERS LAKE NORTH 10TH ADDITION (9306 7)
Page Two
FURTHER BE TT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
ITEM ORIGINAL NEW
AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 54682
for required financial guarantee)
Cash: $ 1,000 $ 1,000
Letter of Credit: $23,000 $23,000
Adopted by the City Council on January 3, 1994.
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