HomeMy WebLinkAboutCity Council Resolution 1994-446RnOlAnWN NO. 94-446
)RZDUCING DZV=PNM TP BOND
PARK08 LAKE NORTH STH ADDITION ('POW
VBBR8ASt in accordance with the development contract dyed Sepaember 28, 1990, Iia-WMkm
Padders Labe, dwdWer of Parbers Labe Nonb 66 Addition (90066), has greed b Watell oertsia
irep vvenwo 1br said development; mW
VEERWO the developer has compbled a portion of the went, ntilihr sad Bile gn dbq as holed below;
sad
VMEAS, the developer has requested a reduction of the development bond to reflect the completed
vork;
NOW, THERBPORE, B8 IT NERBBY RESOLVED BY THE CRY COUNCIL. OF THE CRY OF
PLYMOUTH, IOTA; that floe borndirrg requirements are reduced as follows:
TSL
ORIGXNAL
NEW
Mai
AhLCnJNT
Street Conwuction
5489697
S -0 -
Unitary Suver
249376
4
Watmmain
659877
4
Storm Sewer
99300
4
Boulevard and Drainage Swab Sod
29230
4
Pond or Ditch Construction
4
4
Street Sign
130
4
Site Grading and Draimp Improvements
67,000
19000
Park and Trail Improvcmnnts
49334
1,000
Design, Adminimadon, hVection, As-Builts
2LM
—M
TOTAL
$248,622
$29240
lost the letter of credit required for the above items be reduced as detailed above from $15,774 to $2,240
to reflect the completed work. Certificate of Deposit No. 410-1206593 issued by Norwest Back
Minneapolis, N.A. can be reduced aoxrdingly.
•
RESOLUTION NO. 94- 446
PARKSRS LASS NORTH 6TH AMMON (90066)
Pap Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved devokpoem contract be reduced as follows:
IKainteamce of Brosion and Sediment
Control Flan Street Sweeping and Storm
Sewer Claming
Cub:
Letter of credit:
(Say. Certificate #410120636')
$ 11000 $11000
$12sM $ -0-
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter construction is
accepted for continual maintenance as of August 1, 1994 subject to the One Year Guarantee by the
Developer.
Adopted by the City Council on August 1, 1994.