HomeMy WebLinkAboutCity Council Resolution 1994-110C
RESOLUTION NO.94-110
REDUCING DEVELOPMENT BOND
SWAN IJ4n SOUTH ADDITION (92112)
WHEREAS, in accordance with the development contract dated April 121 1993, JANCO, Inc., developer
of Swan Labe South Addition (92112), has agreed to install certain improvements for said develol►maC
and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted below;
and
NOW, THER.BFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements aro reduced as follows:
TT S
ORIGINAL
AMOUNT
NVEW
AMOUNT
Street Construction
$202,346
SWIM
(Except City Proj. No. 3 l 1)
Sanitary Sewer
1090092
21,318
Watermain
910596
18► 320
Storm Sewer
61,242
12,248
Boulevard and Drainage Swale Sod
13,000
139000
Mitigation Pond Construction
1,020
S00
Drainage Pond Construction
17,100
3,420
Street Signs (5 x 200)
11000
200
Site Grading and Drainage Improvement
255,455
511091
Part and Trail Improvement
90150
89000
Setting Iron Monuments
41875
975
Design, Administration, Inspection, As -Bunts
91,929
TOTAL
$858,005
$2359618
That the letter of credit required for the above items be reduced as detailed above from $539,328 to
$233,618 to reflect the completed work. Letter of Credit No. 5402109 may be reduced acoordingly.
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>RBROLUTION NO. 94-110
SWAN LAlla SOUTH ADDITION (92112)
FaPTWO
FURTER BE 1T RESOLVED that the boodin8 eequb meets for the foN ging items per Section 8.1 of
the approved development conaw be redmd as follm:
•�:�, • � c1i is
1�� • I.1
Mailitealkaw Of Brodon and segment
Coubd PWa Sam Sweaft and Stam
Sewer Cleaoiai
Cash: $1,000 sl,eoo
Letter of Craft: s590000 s599000
Adopted by the City Council on February 28, 1994
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