HomeMy WebLinkAboutCity Council Resolution 1995-156( RESOLUTION No. 95 -156
REDUCING DEVELOPMENT BOND
QUAIL HOLLOW ADDITION (93134)
WHEREAS, in accordance with the development contract dated January 11, 1994, Contractor Property
Developers Company, developer of Quail Hollow Addition (03134), 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 bond to reflect the completed
work;
W"41,1414641.3
1: ' :) • 1:1 • :1: :• IN
:1, • 611 • ' 1: • -
Fu-
{ Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Fond Construction
Sediment Pond Construction
Strut Signs (( x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
• I '
$173,405
$34,681
819428
81143
64,550
6,455
26,650
2,665
8,400
4,200
-0-
-0-
3,500
-0-
1,200
-0-
101,500
-0-
-0-
-0-
-0-
55.276
-0-
6.737
$515,909 $62,881
That the letter of credit required for the above items be reduced as detailed above from $515,901) to
$62,881 to reflect the completed work. letter of Credit No. 940118-1A may be reduced accordingly.
RESOLUTION No. 95. 156
( juAIL HOLWW ADDITION (9313
Pap Two
FURTEMR BE IT RESOLVED that the bonding requirements for the following items per Section S.1 of
the approved development contract be redtu:ed as follows:
E!
Maintm= of Bmsm and Sediment
Control Fm Street Sweeping and Storm
Sewer Cleaning (see Grading Permit No. 57307
for financial guarmtee requirements.)
Cash:
Letter of Credit:
Adopted by the city Council on March 7, 1995.
sl,000 $19000
$29,000 $149500