HomeMy WebLinkAboutCity Council Resolution 1995-283RESOLUTION NO. 95 - 283
REDUCING REQUIRED FINANCIAL GUARANTEE
HOLLY CREEK ADDITION (91106)
WHEREAS, in acrordancb with the development contract dated April 1, 1992, Scherber Partnership
Properties, developer of Holly Creek Addition (91106), 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:
ZTI
ORIGINAL
NEW
AMQULT
AMQIii`]T
Stroet Construction (Excluding G.R. 9 bypass
$58$00
$ -0-
lane and C.R. 9 C & G)
Sanitary Sewer
37,700
-0-
Watermain
29,600
-0-
Storm Sewer
15,800
-0-
Boulevard and Drainage Swale Sod
3,200
200
Mitigation Pond Construction
10,000
2,500
Street Signs (2 x 150)
300
.0 -
Site Grading and Drainage Improvements
39$00
-0-
Park and Trail Improvements
-0-
-0-
Design, Administration, Inspection, As-Builts
22.248
32A
TOTAL
$207,648
$3,024
That the letter of credit required for the above items be redviced as detailed above from $6,2726 to $3,024
to reflect the completed work, Letter of Credit No. 19611, may be reduced accordingly.
RESOLUTION No. 9S- 283
HOLLY CREEK ADDITION (91106)
Page 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 Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on May 16, 1995.
:M,• 1a
$ 1,000 $1,000
$15,200 $1,900