HomeMy WebLinkAboutCity Council Resolution 1995-264•
RESOLUTION NO. 95-264
REDUCING DEVELOPNOW BOND
KRUBERLY 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; 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
AM
NEW
AMO
Street Construction (Excluding Co. Rd. y concrete
$24,657
5 -0 -
curb and gutter)
Co. Rd. 9 - Bypass Lane
41640
-0-
Sanitary Sewer
13,865
-0-
Watermain
140439
-0-
Storm Sewer
7,919
.0 -
Boulevard and Drainage Swale Sod
1,600
-0-
Sediment/Storage Pond Construction
1,360
4
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
40958
-0-
Park and Trail improvements
-0-
.0 -
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
-$..M
Q
TOTAL
$82,475
$-0-
That the letter of credit required for the above items be reduced as detailed above from $11,120 to $0
(zero) to reflect the completed work. Letter of Credit No. 1135-1293C may be reduced accordingly and
will be released by the Finance Department,
0
•
KIlHBERLY WOODS ADDITION (93018)
( 'are 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:
Maintenance of Erosion and Sediment
Control Plan Strut Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 540506
for required financial guarantees)
Cash:
Letter of Credit: No. 1135-6938
• c ' 1
v MIRM v • lit
$19000 $10000
$19000 $ -0-
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter is accepted for
continual maintenance as of May 2, 1995 subject to the One Year Guarantee by the Developer per
Maintenance Bond No. 143 27 78.
Adopted by the City Council on May 2, 1995.
C