HomeMy WebLinkAboutCity Council Resolution 1994-448•
RESOLUTION NO. 94- 448
REDUCING DSVSLOE NOW BOND
LAXZ CAMELOT ESTATES 3RD ADDITION (89044)
WE MEAS. W accordance with the development contract dated Jamary 30, 1990, T1re Rotthmd
Company, Inc., developer of Labe Camelot Estates 3rd Addition (89014), has speed to im H certain
improvements for said development; and
WEOMEAS, the developer has completed a portion of the went, utility and site grading as noted below;
and
WEiBREAS9, the developer has requested a reduction of the development bond to rdlect the completed
work;;
NOW, THEREFORE, BE TT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MENNESOTA; that the bonding requiraoeots are reduced as follows:
®�
ORIGINAL
AMQUUT
NEW
AMOUNT
Street Construction
$1349982
$-0-
Sanitary Sewer
180544
4
Waternuin
55,513
-)-
Storm Sewer
23,920
4
Boulevard and Drainage Swale Sod
6,270
4
Pond or Ditch Construction
-0-
4
Street Sins
300
-)-
Site 0ndiryt and Drainage Improvements
172,900
4
pant and T mil Improvements
-0-
-)-
Design, Administration, Inspection, As-Budts
49.491
TOTAL
$461,920
That the cash deposit submittal on January 31, 1992 to replace Letter of Credit No. 3208 required for the
above items be reduced as detailed above from $23,148 to $0 (am) to reflect the completed work. Ma
cash deposit is henry released and will be returned to the developer.
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RESOLUTION NO. W 448
LAKE CANZLOT ESTATES 3RD ADDITION (89044)
Pap Two
FUlTI7i M BE IT RB'OLVBD that the bonding requixemew for the following items per Section 8.1 of
the approved development conUM be reduced as follows:
Mainsemance of Brodon and Sediment
Conwl Plan Street Sweeping and Storm
Sewer Ckaning
Crib:
Letter of Credit:
$1,000 S -O -
S55,200 S.0-
7hat the 55,000 cash deposit submitted on January 31, 1992 to replace the required letter of credit
required for the above items was reduced as detailed above from 55,000 to $0 (zero) to reflect the
completed and was returned to the developer. The remaining flunds from the $1,000 cash deposit wil also
be returned to the developer
7URTHBR BE IT RESOLVED that the street construction is accepted for continual maintenance as of
August 1, 1994 subject to the One Year Guarantee by the Developer per Bond No. JB 5709.
Adopted by the City Council on August 1, 1994