HomeMy WebLinkAboutCity Council Resolution 1995-265RESOLUTION NO. 95 -265
REDUCING DEVELOPNOW BOND
CAMELOT OVERLOOK ADDITION (93035)
WHEREAS, in accordance with the development contract dated September 12, 1994, North Suburban
Development, Inc., developer of Camelot Overlook Addition (93035), 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
AMO
NEW
AM41tI3T
Street Construction
$170,000
34,000
Reconstruct Gravel Road (Xenium Larne)
21425
2,425
Sanitary Sewer
1319000
-0-
Watermain
121,000
-0-
Storm Sewer
87,000
-0-
Boulevard and Drainage Swale Sod
140000
140000
Mitigation Pond Construction
4,200
49200
Sediment Pond Construction
1,800
11800
Street Signs (4 x 200)
800
800
Site Grading and Drainage Improvements
174,000
17,400
Park and Trail Improvements
10-
-0-
Setting Iron Monuments
31200
31200
Design, Administration, Inspection, As-Bullts
85.131
9.339
TOTAL
$794,556
$87,164
That the letter of credit required for the above items be reduced as detailed above from $160,927 to
587,164 to reflect the completed work. The required Letter of Credit No. 104-415 P may be reduced
accordingly.
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