HomeMy WebLinkAboutCity Council Resolution 1996-024•
RESOLUTION NO. 96 - 24
REDUCING REQUIRED FINANCIAL GUARANTEE
INVERNESS ADDITION (94028)
WHEREAS, in accordance with the development contract dated Manch 13, 1995, Henry 1. Lazniare and
Gina M. Lazniarz, developers of Inverness Addition (94028), have 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 bclow;
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 the fmancial guarantee requirements are reduced as follows:
Street Construction
$ 25,533
$ 4,125
Sanitary Sewer
29,711
51942
Watermain
17,886
3,577
Storm Sewer
41841
968
Boulevard and Drainage Swale Sod
11000
1,000
Mitigation Pond Construction
10-
-0-
Sediment Pond Construction
1,1110
11100
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
20,900
4,130
Park and Trail Improvements
10-
-0-
Setting iron Monuments
300
300
Design, Administration, Inspection, As-Builts
12,177
2,567
TOTAL
$113,648
5231959
That the required financial guarantee for the above items be reduced as detailed above from $113,643 to
$23,959 to reflect the completed work. Letter of Credit No. 28980-A may he reduced accordingly,
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RESOLUTION NO. 96- 24
INVERNESS ADDITION (94028)
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:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit:
Adopted by the City Council on January 9, 1996.
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$19000 $19000
$4,100 $4,100
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