HomeMy WebLinkAboutCity Council Resolution 1995-7770
RESOLUTION NO. 9S.777
REDUCING REQUIRED FINANCIAL GUARANTEE
EAGLEWOOD ADDITION (92110)
WHBRSAS, in accordance with the development contract dated April 120 1993, Argus Development,
Inc., developer of Baglewood Addition (92110), 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 financial guarante.� to ruflea the completed
work;
NOW, THBRBFORB, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
EM
ORIGINAL
AMQIL�T
NEW
AM4LILT
Street Construction
$109,519
-0-
Sanitary Sewer
58,962
-0-
Watermain
41,270
-0-
Storm Sewer
61,826
-0-
Boulevard and Drainage Swale Sod
79400
11200
Mitigation Pond Construction
41180
836
Street Signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
111,928
-0-
Park and Trail Improvements
41449
-0-
Setting Iron Monuments
31000
.0 -
Design, Administration, Inspection, As-Builts
48.376
_244
TOTAL
$451,510
$2,280
That the letter of credit required for the above items be reduced as detailed above from $3,624 to $2,280
to reflect the completed work, Letter of Cnxlit No. SA 89401094 may be reduced accordingly.
•
RESOLUTION NO. 95-777
&AGLEWOOD ADDITION (92110)
Page Two
FURTHER BB IT RESOLVED that the financial guarantee requirements for the fallowing items per
Section 8.1 of the approved development contract be reduced as follows:
Maintenance of Erosion and Sediment
Control Plan Stmt Sweeping and Storm
Sewer Cleaning
Cash: $10000 $1,000
Letter of Credit No. 214: $17,600 $4,400
Adopted by the City Council on Decamber 19, 1995