HomeMy WebLinkAboutCity Council Resolution 1995-740RESOLUTION NO. 95 - 740
REDUCING REQUIRED FINANCIAL GUARANTEE
BASS LAKE ESTATES 3RD ADDITION (95065)
WHEREAS, in accordance with the development contract dated July 31, 1995, Prime Builders, Inc.,
developer of Bass Lake Estates 3rd Addition (95065), 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 118 CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
00 XV 1�Y
Street Construction
$22,890
541578
Sanitary Sewer
11,583
2,317
Watermain
25,108
5,022
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
2,400
2,400
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
89500
11700
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
11000
19000
Design, Administration, Inspection, As-Builts
L692
LM
TOTAL
$80,283
$190283
That the required financial guarantee for the above items be reduced as detailed above from $80,283 to
$19,283 to reflect the completed work, Letter of Credit No, 1738 -995 -DI may be reduced accordingly.
rwW.VW.
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RESOLUTION N0.95- 740
BASS LAKE ESTATES 3RD ADDITION (9S"
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:
Y Y �u : ��_ � _1►II
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $1,000
Letter of Credit No. 1738 -995 -LS: $8,300
Adopted by the City Council on December 5, 1995.
0
$1,000
$8,300
FO."W.WC