HomeMy WebLinkAboutCity Council Resolution 1995-1980
RESOLUTION NO. 95 -198
REDUCING DEVELOPMENT BOND
SWAN I.AXE SOUTH ADDITION (92112)
WHEREAS, in accordance with the development contract dated April 12, 1993, JANCO, Inc., developer
of Swan Lava South Addition (92112), 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;
NOW, THIMUORB, BE IT HMMY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bor:ding requirements are reduced as follows:
EMU
ORIGINAL
A�3£
NEW
AM2
Street Construction
$2029546
S-0--
(Hrcept City Proj. No. 011)
Sanitary Sewer
109,092
-0-
Watermain
91,596
-0-
Storm Sewer
61,242
-0-
Boulevard and Drainage Swale Sod
13,000
2,070
Mitigation Pond Construction
19020
500
Drainage Pond Construction
17,100
648
Street Signs (5 x 200)
11000
-0-
Site Grading and Dranuage Improvements
255,455
-0-
Park and Trail Improvements
921150
-0-
Setting Iron Monuments
4,875
-0-
Design, Administration, Inspection, As-Builts
91.929
378
TOTAL
$858,005
$3,526
That the letter of credit required for the above items be reduced as detailed above from $21,000 to $3,526
to reflect the completed work. Letter of Credit No. 5402109 may be .seduced ^ccordingly.
RESOLUTION NO.9S - 198
SWAN LAKE SOUTH ADDITION (92112)
Page Two
FURTHER BE IT RESOLVED that the bonding requirements for the following items per Section $.1 of
the approved development contract be reduced as follows:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on March 21, 1995
• ' i I • ' 1
v • ng : „ • 1-M
$ 1,000 S 11000
$59,000 $14,750