HomeMy WebLinkAboutCity Council Resolution 1994-754•
RESOLUTION NO. 94754
REDUCII40 DBVE AiSIENT BOND
BOULDER RIDOB 2ND ADDMON (91010)
WMEREAS, in accordance with the development contract dated August 121 19919 KrutdS Homes, Inc.
and Hill*mugh Manor, Inc., developer of Boulder Ridge 2nd Addition (91010), has agreed to install
certain in*vm e t for said developmeor and
VAMMU S, the developer has completed a portion of the street, utility and site grading as noted bebw;
and
WHEREAS, the developer has requested a reduction of the development bond to reflect the completed
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNC L OF THE CITY OF
PLYMOUTH. MINNESOTA; that the bonding requirements are reduced u follows:
That the letter of credit required for the above items was previously reduced as detailed above to $3,147 to
reflect the completed work. Feuer of Credit No. 27623-A was reduced accordingly on January 3, 1994.
The street construction and concrete curb and gutter was accepted for continual mainte wm Al of January
31 1994, subject to the One Year Guarantee by the developer, and in lieu of the required maintenance
bond the developer requested dot the City nuW a letter of credit in the amount of 10% of the street
construction tout as a maintenance guarantee for the one year period from January 3, 1994 to January 3,
1995.
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ORIOINAL
AMOUNT
NEW
AMOUNT
Street convection
$28,100
$2,810
Zachary Turn Lame
4,300
-0-
Sanitary Sewer
209300
4
Watermain
20,900
4
Storm Sewer
10,700
4
Boulevard and Dminagc Swale Sod
50000
4
Pad or Ditch Construction
4
4
Street Signs (1 x 150)
ISO
4
Site Grading and Drainage Improvements
76,000
-0-
Park and Trail Impwvenents
1$00
4
Dedgn, Administration, Inspection, As-Builts
20.011
. W
TOTAL
$186,984
$3,147
That the letter of credit required for the above items was previously reduced as detailed above to $3,147 to
reflect the completed work. Feuer of Credit No. 27623-A was reduced accordingly on January 3, 1994.
The street construction and concrete curb and gutter was accepted for continual mainte wm Al of January
31 1994, subject to the One Year Guarantee by the developer, and in lieu of the required maintenance
bond the developer requested dot the City nuW a letter of credit in the amount of 10% of the street
construction tout as a maintenance guarantee for the one year period from January 3, 1994 to January 3,
1995.
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0
RESOLUTION NO. 94- 754
BOUIDBit RMOB 2ND AMMON (91010)
Pap Two
PUR12RR BB 1T RESOLVED that the boodlop mquiremeob for the following hem per Section 8.1 of
the approved developeam ooetnct be reduced as followL
E '•
Naioteoanoe of Broebn and Sediment
Coetrol Plan Street SMee ft and Storm
Seger claws�
Cash:
Letter of Credit No. 27623-B:
Adopted by the City C==U on November 21, 1994.
• t11 I: '
U.17(6111%10 • ►.r
$1,000 $1,000
$159000 53,730
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