HomeMy WebLinkAboutCity Council Resolution 1995-233RESOLUTION N0.95 - 233
REDUCING REQUIRED FINANCIAL GUARANTEE
BASS LAKE PLAZA ADDITION (A-449)
WHERH4S, in accordance with the development contract dated December 31, 1973, M.O. Astleford,
developer of Bass Labe Plaza Addition (A-449), 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, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
EM
ORIGINAL
AMg�
NEW
AM.QLIriT
Street and Sidewalk
$1149620
$-0-
Sanitary Sewer
37,630
-0-
Watermain
369100
-0-
Storm Sewer
15,000
-0-
Boulevard and Drainage Swale Sod
5,000
-0-
Pond or Ditch Construction
-0-
-0-
Street Signs
150
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Street Sweeping
500
---(L-
TOTAL
TOTAL
5209,000
$-0-
That the letter of credit required for the above items be reduced as detailed above from $114,523 to ' y
(zero) to reflect the completed work. In this instance a bond from Fidelity and Deposit Company c)
Maryland in the amount of $313,710 was originally provided by the developer and is hereby reduced to V
(zero). It will be released by the Finance Department,
Adopted by the City Council on April 4, 1995.