HomeMy WebLinkAboutCity Council Resolution 1995-015•
RESOLUTION NO. 9S-15
REDUCING DEVELOPMENT BOND
EAGLEWOOD ADDITION (92110)
WHSM", in accordance with the development contract dated April 12, 19930 Argus Development,
Inc., developer of Eaglewood Addition (92110), has agreed to install certain improvements for said
development; and
WEMWAS, the developer has completed a portion of the street, utility and site grading as noted below;
and
WIEHUM, the developer has requested a reduction of the development bond to reflect the completed
work;
NOW, THEREFORE, BE IT HEREY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
ITEM
ORIGINAL
AMSZLB3T
NEW
AM4I�
Street Construction
$109,519
$150401
Sanitary Sewer
58,962
-0-
Watermain
41,270
-0-
Storm Sewer
61,826
-0-
Boulevard and Drainage Swale Sod
71400
29400
Mitigation Pond Construction
4,180
836
Street Signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
111,928
4
Park and Trail Improvements
41449
4
Setting Iron Monuments
3,000
-0-
Design, Administration, Inspection, As-Builts
48.376
2,b
TOTAL.,
$451,510
$20,873
That the letter of credit required for the above items be reduced as detailed above from $32,738 to
$20,873 to reflect the completed work. Letter of Cfedit No. SA 89401094 may be reduced accordingly.
U
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RESOLUTION NO. 9S-15
( MAGLEWOOD ADDITION (92110)
Pate Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the appro%-ed development contract be reduced as follows:
Maintenarm of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 214:
• cti i Wo'
$19000 $19000
$17,600 $4,400
FURTHER BE IS RESOLVED that the street construction and concrete curb and gutter is accepted for
continual maintenance as of January 3, 1995 subject to the one year guarantee by the developer.
Adopted by the City Council on January 3, 1995