HomeMy WebLinkAboutCity Council Resolution 1995-638RESOLUTION NO. 95- 638
REDUCING REQUIRED FINANCIAL GUARANTEE
AUTUMN HILLS 2ND ADDITION (94WS)
WHEREAS, in accordance with the development contract dated January 31, 1994, Lundgren Bros.
Constriction, Inc., developer of Autumn Hills 2nd Addition (94005), 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
wHERSAS, the developer has requested a reduction of the required financial guarartee to reflect the
completed work;
NOW, TH MWORB, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
FVM-M
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
Sediment Poni Construction
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
� � 1►M. : � � J►M
$ 829000
R -0-
50,000
-0-
49,000
-0-
32,000
-0-
4,800
19200
-0-
-0-
7,500
-0-
400
-0-
59,500
-0-
-0-
4
2.000
-0-
34"
im
$ 321,664 $ 1,344
That the required financial guarantee for the above items be reduced as detailed above from $27,664 to
$1,344 to reflect the completed work. Letter of Credit No. 13207 may be reduced accordingly.
•
RESOLUTION NO. 95- 638
4AUTUMN IM I,S 2ND ADDITION (9400
Fare Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development connect be reduced as follows:
MMn
Maintenance of Erosion and Sediment
Control PLn Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 13208:
• • cis "
„ • 1�M : �� • Jail
$19000 $10000
$14,750 $7,375
FURTHER BE IT RESOLVED that the street construction and concrete curb and gutter construction is
accepted for continual maintenance as of October 24, 1995 subject to the Two Year Guarantee by the
Developer per Maintenance Bond No. 54-69989.
Adopted by the City Council on October 24, 1995