HomeMy WebLinkAboutCity Council Resolution 1995-201•
RFSOLUTION NO. 95- 201
REDUCING DEVELOP'N ENT BOND
KI MERLY WOODS ADDITION (93018)
WHEREAS, in accordance with the development contract dated July 23, 1993, New Century Homes, Inc.
developer of Kimberly Woods Addition (93018), has agreed to install certain improvements for said
development; an4
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, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, M NNESOTA; that the bonding requirements are reduced as follows:
j�
ORIGINAL
AM4Vr]T
NEW
AM43INT
( Street Construction (Excluding Co. Rd. 9 concrete
$24,657
$100000
curb and gutter)
Co. Rd. 9 - Bypass Lane
4,640
-0-
Sanitary Sewer
13,865
-0-
Watermain
14,439
-0-
Storm Sewer
71919
-0-
Boulevard and Drainage Swale Sod
11600
-0-
SedimentiStomge Pond Constriction
11360
10 -
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
4,958
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
8.837
1.1142
TOTAL
$82,475
$110120
That the letter of crodit required for the above items be reduced as detailed above from $14,031 to
$11,120 to reflect the completed work. Letter of Credit No. 1135-12930 may be reduced accordingly.
i
KSMERLY WOODS ADDITION (93018)
gage Two
PURTHHR BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
rM�,r
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 540506
for required financial gusrantem)
Cash:
Dexter of Credit: No. 1135-6938
Adopted by the City Council on March 21, 1995.
FIN . Lei Ijev
$1,000 5100
$1,000 $-0-