HomeMy WebLinkAboutCity Council Resolution 1995-543•
RESOLUTION N0.95 - 543
REDUCING REQUIRED FINANCIAL GUARANTEE
HEATHER RUN 4TH ADDITION (95001)
WHEREAS, in accordance with the development contract dated February 219 19950 Lundgren Bros.
Construction, Inc., developer of Heather Run 4th Addition (95001), 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 required financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, bUNNESOTA; that the financial guarantee requirements are reduced as follows:
Yq
i Street Construction
Sanitary Sewer
Watennain
Storm Sewer
Bouievard and Drainage Swale Sod
Mitigation Pond Construction
Sediment Pond Construction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and 'Nail Improvements
Setting Iron Monuments
Design, Administration, inspection, As-Builts
TOTAL
i
v is . ,• 111
$75,800
$209000
61,600
-0-
42,500
-0-
21,100
-0-
5,600
5,600
-0-
-0-
-0-
-0-
400
400
-0-
-0-
9,600
90600
2,800
2,800
26,328
AJO
$245,728 $43,008
Mut the required financial guarantee for the above items be reduced as detailed above from $245,728 to
$43,008 to reflect the completed work. Letter of Credit No. 28912-A may be reduced accordingly.
LA4=1 We
•
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RESOLUTION NO. 95- 543
UATHER RUN 4TH ADDITION (95ND
ftPTWO
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development oonb,"I be reduced as follows:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
$1,000 $1,000
$4 $4
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction is
accepted for continual maintenance as of September 19, 1995 subject to the Two Year Guarantee by the
Developer per Maintenance Bond No. 54077024.
I
Adopted by the City Council on September 19, 1995.