HomeMy WebLinkAboutCity Council Resolution 1994-704•
RWOLUTION NO. 94. 704
RZDUCING DSVZWPNMNT BOND
UMLSWOOD FARM 2ND ADDITION MW
WritBAS, in accordance with the development contract dated June S, 19929 U.S. Home Corporation,
devdWw of Milewood Farm 2nd Addition (92037), hu agreed to install certain improvaneots for rid
development; and
WiIBREAS, the developer has completed a portion of the street, aft and she grading u noted below;
and
WHEREAS, the developer has requested a reduction of the development bond to reflect the completed
wort;
NOW, THEREFORE, BE 1T HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced u folbwa:
EM
ORIGINAL
AKQw
NEW
AMM
Street Construction (Excluding Prof. 206)
$.0-
S -0 -
Sanitary sewer (excluding Prat. 206)
-0-
4
Watermain (BxCWft Prod. 206)
-D`
4
Stum Sewer (Excluding Prot- 206)
4
Boulevard and Drainage Swab Sod
17,400
4
Aad orCoutnrctlon
4
4
Strat Sips (4 x 130)
600
4
Site Grading and Drainage Improvements
333,000
51000
Part and 'wall Improvements
4
4
Deign, Administration, inspection, As -Bunts
ALM
im
TOTAL
5393,120
$5,600
That the letter of credit required Por the above items be reduced u detailed above from 536,960 to $3,600
to reflect Me completed wort. Letter of Credit No. FOAC-92069 may be reduced accordingly.
•
RBBOLUTION NO, 94. 7 04
MMI SWOOD FARM 2ND ADDITION 02M
Prig Two
FUR'1EIM BE rr RESOLVED that the boaft requhumeott for the fdtowiog items per Section 8.1 of
the R*rwm d devebpaw of coubad be reduced as Maws:
Meineeoeooe of Bro" rod Sediment
Cootid Phm Street SMeephm and Storm
Surer CiemirR
Cub:
Letter of Credit No. FOAC-9X`68:
Adopted by the City Council on K vember 7, 1994
• c11 �' '
$11000 $10000
$44,500 $-0