HomeMy WebLinkAboutCity Council Resolution 1995-157{ RESOLUTION NO. 95.157
RE WING DEVELOPMENT BOND
BR13DLEWOOD FARM 3STD AMMON (92007)
WHEREAS, in accordance with the development contract dated June S, 1992, U.S. Home Corporation,
developer of Bridkwood Farm 2nd Addition (92037), has agreed to install certain impmvemems for said
developmem; and
WHEREAS, the developer has completed a portion of the street, utility and site grading as noted below;
add
WHEREAS, the developer has requested a reduction of the development bond to reflect the completod
work;
NOW, 'Ii133R WORE, BE iT HEREBY RESOLVED BY TI1E CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
ITEM
ORIGINAL
AMQ�
NEW
AM4SIHT
Street Construction (Excluding Pmj. 206)
$-0-
S -0 -
Sanitary Sewer (excluding Pmj. 206)
-J-
-0-
Watermain (Excluding Pmj. 206)
4
4
Storm Sewer (Excluding Proj. 206)
4
4
Boulevard and Dtainage Swale Sod
117,400
4
Pond orConstruction
4
4
Street Sign,• (4 x 150)
600
4
Site Grading and Drainage Improvements
333,000
-0-
Park and 'hail Improvements
-0
4
Design, Adminishation, Inspection, As-Builts
42.M
A
TOTAL
$3930120
$-0-
That the letter of credit required for the above items be reduced as detailed above fix)m $5,600 to $-0-
(zero) to reflect the completed work. Letter of Credit No. FGAC-92069 may be reduced accordingly and
will be released by the Finance Department.
•
RESOLUTION NO. 95-157
( UMLEWOOD FARM 2ND ADDITION (92037)
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
IMr
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. FGAC-92068:
Adopted by the City Council on March 7, 1995
$1,000 $-0-
$44,500 $-0-