HomeMy WebLinkAboutCity Council Resolution 1995-641J
( RESOLUTION N0.95- 641
REDUCING REQUIRED FINANCIAL GUARANTEE
BOULDER RIDGE 3RD ADDITION (93013)
WHEREAS, in accordance with the development contract dated February 17, 1993, Krutzig Homes, Inc.,
developer of Boulder Ridge 3rd Addition (93013), has agreed tq 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, MMNESOTA; that the financial guarantee requirements are reduced as follows:
rm
ORIGINAL
AMOUNT
NEW
AM44tI`d'T
Street Construction
$ -0-
$ -0-
Sanitary Sewer
16,000
-0-
Watermain
17,000
-0-
Storm Sewer
3,000
-0-
Boulevard and Drainage Swale Sod
-0-
-0-
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (0 x 0)
-0-
-0-
Site Grading and Drainage Improvements
44,000
-0-
Pmk and Trail Improvements
-01
-0-
Setting Iron Monuments
2,000
-0-
Design, Administration, Inspection, As-Builts
9.840
-0-
TOTAL
$ 91, 840
$ -0-
That the required financial "arantee for the above items be reduced as detailed above from $10,304 to $0
(aero) to reflect the comr;z •ed work. Letter of Credit No. 28273-A may be reduced accordingly.
0
•
RESOLUTION NO. 95- 641
( BOULDER RIDGE 3RD ADDITION (93013)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee 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 No. 28273-B:
$1,000 $-0-
$6,050 $-0-
FURTHER BE IS RESOLVED that the sanitary sewer, watermain, and storm sewer construction is
accepted for continual maintenance as of October 24, 1995 subject to the Two Year Guarantee by the
Developer per Malatenance Bond No. 7764656.
adopted by the City Council on October 24, 1995.
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