HomeMy WebLinkAboutCity Council Resolution 1994-286•
RESOLUTION NO. 94-296
RMUCING DEVBLOPN MM BOND
PAREBRS WOODS ADDPI'ION (PIM
WHEREAS, in accordance with the development contract dated June Be 1992, Sherwood T. Pule
developer of faucets woods Addition (91037), has agreed to install certain improvement for said
developmat; and
WHEREAS, the developer has completed a portion of the arm, utility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the development bond to ref ad the completed
work;
NOW, THEREFORE, BB 1T HEREBY RESOLVED BY THE MY COUNCII. OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
®L
ORIGINAL
B�4�iT
NEW
AMOUNT
Street Construction
$479670
$99534
Sanitary Sewer
11,490
-0-
watennain
289760
-0-
Storm Sewer
51300
-)-
Boulevard and Drainage Swab Sod
39200
19600
Pond or Ditch Construction
-0-
-0-
Street Signs (1 x 130;
ISO
4
Site Grading and Drainage Improvement
99000
1,800
(Includes Required Retaining Wall)
Park and 'hail Improvements
-0-
-)-
Design, Administration, Inspection, As -Built
12,56E
TOTAL
$118,238
$14,486
Tbtt the letter of credit required for the above itans be reduced as detailed above from $16,446 to
$14,486 to reflect the completed work.
E
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RESOLUTION NO. 94- 286
PARB13tS WOODS ADDTITON (91037)
Par TWO
FURTHER BE irr RESOLVED that the bonding requirements for the following items per Section 8.1 of
the appeoved development contract be radneed as follows:
Maintenance of Br+osion and Sedimem
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $19000 $11000
Letter of Credit: $1,300 $19300
Adopted by the City Council on May 16s 1994.
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