HomeMy WebLinkAboutCity Council Resolution 1995-695•
( RESOLUTION NO, 93 - 695
REDUCING REQUIRED FINANCIAL GUARANTEE
WALNUT GROVE POND ADDITION (94100)
WHEREAS, in accordance with the development contract dated May 31, 19959 Three Star Trucking,
developer of Walnut Grove Pond Addition (94100), has agreed to install certain improvements for said
development; and
WHEREAS, the developer has completed a portion of the strut, 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, MINNESOTA; that th.s fmancial guarantee requirements are reduced as follows:
ITS
ORIGINAL
AM-QLiLiT
NEW
AMO
Street Construction
$46,000
$46,000
Sanitary Sewer
48,000
48,000
Watermain
39,800
71960
Storm Sewer
23,000
230000
Boulevard and Drainage Swale Sod
41400
49400
Mitigation Pond Construction
-0-
•0 -
Sediment Pond Construction
10-
-0- '
Street Signs (2 x 200)
400
400
Site Grading and Drainage Improvements
70,500
70$00
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,200
1,'200
Design, Administration, Inspection, As-Builts
27.986
24 II
TOTAL
$261,296
$2255635
That the required financial guarantee for the above items be reduced as detailed above from $261,296 to
$225,635 to reflect the completed work, The required flnanciai guarantee may be reduced accordingly.
•
RESOLIEMON NO. 95-695
WALNUT GROVE FOND ADDITION (94100)
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:
MED
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See grading permit for
financial guarantee requirements)
CAsh:
Lotter of Credit:
� Adopted by the City Council on November 14, 1995.
$-0- $-0-
$-0- 5-0-
eu."IMAW,