HomeMy WebLinkAboutCity Council Resolution 1995-775RESOLUTION NO. 95- 795
REDUCING REQUIRED FINANCIAL GUARANTEE
SUGAR HILIB 3RD ADDITION (94044)
WHEREAS, in accordance with the development contract dated June 7, 1994, Eugene R. Forbragd,
Darlene R. Forbragd, Martin N. Harstad, and Janice E. Harstad, developer of Sugar Hills 3rd Addition
(94044), has agreed to install certain improvements for said development; and
WHEREAS, the developer has completed a portion of the strait, utility and site grading as noted below;
and
WHEREAS, the developer has requested a reduction of the financial guarantee to reflect the completed
work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the frnancinl guarantee requirements are reduced as follows:
Em
ORIGINAL
AM4�LiT
NEW
AMQLII�TT
( Street Construction (Excluding City Projects
$1709687
$-0-
308 and 310)
Sanitary Sewer
56,169
4
Watermain (Including costs for difference
84,735
-0-
between 8" and 12" watermain)
Storm Sewer
53,617
4
Boulevard and Drainage Swale Sod
61800
29000
Mitigation Pond Construction
10,000
4
Sediment Pond Construction
15,000
4
Street Signs (4 x 200)
800
-0-
Site Grading and Drainage Improvements
156,000
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
2,000
4
Design, Administration, Inspection, As-Builts
ffLoi
24Q
TOTAL
$6220505
$2,240
That the letter of credit required for the above items be reduced as detailed above from $48,985 to $2,240
to reflect the completed work. Letter of Credit No. 10913 may be reduced accordingly.
UVOOLMON NO. 9:5- 775
SUGAR IFMJ 3RD ADDITION 194W
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved devekpneat contract be reduced a follows:
W
Maiotemnce of Emma and Sediment
Control Pian Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 10912:
• C)I
$1,000 $1,000
$149300 $79150
FURTB 3R BE IT RESOLVED that the street construction and concrete curb and gutter is accepted for
continual maintenance as of December 19, 1995 subject to the Two Year Guarantee by the Developer per
Maintenance Bond No. 54-71250.
Adopted by the City Council on December 19, 1995