HomeMy WebLinkAboutCity Council Resolution 1995-155RESOLUTION NO. 9S- 155
tEDUCING DEVELOPSMNT BOND
EAGLEWOOD ADDITION (92110)
WHEREAS, in accordance with the development contract dated April 12, 1993, Argus Development,
Inc., developer of Eaglewood Addition (92110), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the development uond to reflect the completed
work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Street Signs (3 x 200)
Site Grading and Drainage Improvements
Park and Trait Improvements
Setting lron Monuments
Design, Administration, Inspection, As-Buiits
TOTAL
$109,519
-0-
58,962
-0-
41,270
-0-
61,826
-0-
7,400
2,400
4,180
836
600
-0-
111,928
-0-
4,449
-0-
3,000
-0-
48.376
2H
$451,510 $3,624
That the letter of credit required for the above items be reduced as detailed above from $20,873 to $3,624
to reflect the completed work, Letter of Credit No. SA 89401094 may be reduced accordingly.
RESOLUTION NO. 95- 155
4 4AGLEWOOD ADDITION (92110)
Par Two
FURTHER BE IT RESOLVED that the bonding requirements fcr the following iteras per Section 8.1 of
the approved development contract be reduced as follows:
EMM --ITI
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 214:
• W 1 '
KIIJIMIRN :u• Ikob
$10000 $19000
$17,600 $4,4OO
FURTHER BE IS RESOLVED that the street construction and concrete curb and gutter was previously
accepted for continual maintenance as of January 3, 1945 subject to the one year guarantee by the
developer per Maintanance Bond No. 7587625, and the bond has now been provided.
Adopted by the City Council on March 7, 1995