HomeMy WebLinkAboutCity Council Resolution 1994-376RESOLUTION NO. 94- 376
REDUCING DEVELOPMENT BOND
CURTIS LAKE ADDITION (90105)
WHEREAS, in accordance with the development contract dated June 17, 1901 and the suppleaaental pond
maintenance agreement dated June 17, 1991, Blue and Gold Company, developer of Curtis Laine Addition
(90105)0 has agreed to install certain improvements for said devolopmenr and
WHEREAS, the developer has completed a portion of ta.: street, utility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the development bond to reflect the comploied
work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, NIINNWOTA; that the bonding requirements are ruuuced as follows:
Street Construction (excluding Proj. No's 015/011)
Sanitary Sewer
WAtermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signa
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
583500
S -0-
66100C
-0-
59,000
-0-
50,000
-0-
10,000
10000
-w
-0-
600
-0-
6.5,000
-cl-
-0-
-0-
40.092
_ 170
$374,192 $1,120
That the letter of credit required for the above items be reduced as detailed above from $3,360 to 51,120
to reflect the completed work. Letter of Credit No. 2788 may be reduced accordingly.
0
ABSOLUTION NO. 94-376
CURTIVS LHS ADDITION (90103)
Pbga Two
FURTHER BE IT RESOLVED that the bonding requits for the following items per Section 8.1 of
the approved development contract be reduced as follows:
Maintewnm of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Ckaning (See Grading Permit No. 42235
for required financi,sl guarantees)
Cash:
Letter V Credit:
$19000 $19000
5349800 539000
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash
with Letter of Credit No. 2787 being reduced from $13,700 to $5,000.
Adopted by the City Council on July 11, 1994.
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