HomeMy WebLinkAboutCity Council Resolution 1995-3590
RESOLUTION NO. 95- 359
REDUCING DEVELOMIENT BOND
GREENWOOD PONDS ADDITION (9105)
WHEREAS, in accordance with the development contract dated June 161 19929 Three Star Tmddng and
Thomas Fisher, developer of Greenwood Ponds Addition (91057), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed a portion of the su t, utility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the development bond to reflect the completed
work;
r1_w
Street Construction
Sanitary Sewer
watermain
Storm Sewer (excluding City Project No. 016)
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs (2 x 150)
Site Grading and Drainage Improvements
Paris and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
$ 41,842
$* 4,184
131900
*10890
199500
*19950
6,300
* 630
2,000
-0-
-0-
-0-
300
-0-
50,000
-0-
1,320
-0-
16,919
-0-
$156,981
$156,981 $89654
That the letter of credit required for the above items remain as detailed above be reduced from $10,140 to
$8,654 to rei,:.et the completed work. Letter of Credit No. 93-3 may be reduced accordingly.
•
RESOLUTION NO. 95- 359
3REMMOOD PONDS ADDITION (91057)
Page Two
FURTE M BE IT RESOLVED that the bonding requirements for the following items per Section 8.1 of
the approved development contract be reduced as follows:
ORIGINAL NEW
BMQLiHT AMQiNr
Maintenance of Erosion and Sediment
Control Plan Strad Sweeping and Storm
Sewer Cleaning
Cash: $10000 $-0-
Later of Credit No. 92-7: $%400 $-0-
In accordance with Resolution No. 94111 the improvements were accepted and pursuant to the
developer's request, a 10% retainer is being held in the required development bond for the sanitary
sewer, watermain, storm sewer, street constriction, and concrete curb and gutter in lieu of the
required maintenance bond. This money will be held until July 11, 1995 unless the developer
i and/or his contractor submits a maintenance bond in the amount of $86,542 as a substitute for the
10% retainer.
Adopted by the City Council on June 20, 1995.
LJ