HomeMy WebLinkAboutCity Council Resolution 1994-702• .: 1 1 1 1
.�' II 1 1 1 '1 1,1 '1 ►' i ire
WI RBAS, in accor6mce with the development contract dried Irme 69 1991 and revised September 410
19929 U.S. Homo Cotpou tion, developer of Bridiewood Farm Addition (90028), bu Wad b behII
certain impoMements for aid development; and
WiIERBA3, the developer bu completed a portion of the weer, utility and the grading as nosed bebw;
Ed
Wi RW, in accordance with City ordioaocak the developer provided a llunciel 9arusee to
�wtute I the payment of the Mt two years of VWW asseaunemts for west 000wuctba, waetaaia
construction, and pond comanraion; and
WHEREAS, the lesser of credit is identified as Lesser of Credit No. POAC-91030 for all requited
construction; and
WHEREAS, the developer hu paid the special usameots on 65 lw for City Project Nos. 010 and 016;
and
WHEREAS, the developer Ms requested a tedwdm of the development bond to reflect the completed
paymeaa;
NOW, TOOK BE IT HERWY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, M[NNESOTA; that the bonding requirements are reduced u follows:
Two year paymeat guarantees for 513602.40 S-O-
opecW aaamsents for City
Project Nos. 010 %Levy No. 12691)
and 016 (Levy No. 12349)
NOW THEREFORE BE IT FURTHER RESOLVED that Letter of Credit No. FOAC-91030 in the
amount of $8,038.63 is hereby reduced to $(0) zero and will be released by the Finmoe Department.
Adopted by the City Council on November 7, 1994