HomeMy WebLinkAboutCity Council Resolution 1995-714•
RESOLUTION NO. 95-714
REDUCING REQUIRED FINANCIAL GUARANTEE
PINTAIL VILLAS ADDITION (93035)
WHEREAS, in accordance with the development contract dated April 15, 1994, The Rottlund Company,
Inc., developer of Pintail Villas Addition (93055), 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
WIIEREAS, the developer has requested a reduction of the required financial guarantee to reflect the
completed work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE Ci,A COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
NURP Pond Construction (See File #93067)
Street Signs (2 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
:,, • icV : u • 1.
$259,936
$1,071 v591
$-0-
40,633
-0-
63,180
-0-
61,681
-0-
2,900
-0-
-0-
-0-
400
-0-
526,548
-0-
-0-
-0-
1,500
-0-
114.813
--D--
-D--
$1,071,591
That the financial guarantee required for the above items be reduced as detailed above from $38,767 to $0
(zero) to reflect the completed work. In this instance, the developer submitted Bond Nc . 77731 and it is
hereby reduced from $38,767 to $0 (zero) and will be released by the Finance Departmert.
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RESOLUTION NO. 95-714
PINTAIL VHJ AS ADDITION MM
ip Two
FURTHER BE ff RESOLVED that the bonding 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 (See Grading Permit No. 55885
and 58883)
Cash:
Letter of Credit:
••
. „ � l.M . „ � 1►r1
$19000 $1,000
$14,000 $7,000
FURTHER BE IT RESOLVED that the street construction and cohcrete curb and gutter is accepted for
continual maintenance as of November 21, 1995 subject to the one year guarantee by the developer per
Maintenance Bond No. JR3035.
Adopted by the City Council on November 21, 1995.
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