HomeMy WebLinkAboutCity Council Resolution 1996-026RESOLUTION N0.96 - 26
REDUCING DEVELOPMENT BOND
SWAN LAKE SOUTH ADDITION (92112)
WHEREAS, in accordance with the development contract dated April 12, 1993, JANCO, Inc., developer
of Swan Lake South Addition (92112), 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 development bond to reflect the completed
work;
NOW, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are reduced as follows:
lmd
ORIGINAL
NEW
AM.QTt'T
AMQII�IT
Street Constriction
$2020546
$_0_
(Except City Proj. No. 011)
Sanitary Sewer
1095092
-0-
Watermain
91,596
-0-
Storm Sewer
619242
-0-
Boulevard and Drainage Swale Sod
13,000
800
Mitigation Pond Construction
13020
500
Drainage Pond Construction
17,100
648
Street Signs (5 x 200)
11000
-0-
Site Grading and Drainage Improvements
255,455
-0-
Park and Trail Improvements
99150
-0-
Setting Iron Monuments
4,875
-0-
Design, Administration, Inspection, As-Builts
91.929
234
TOTAL
$858,005
$2,182
That the letter of credit requirtA for :he above items be reduced as detailed above from $3,525 to $2,182
to reflect the completed work. Letter of Credit No. 5402109 may be reduced accordingly.
R&SOLLMON NO. 96 - 26
SWAN I.AKE SOUTH ADDITION (92112)
Page TWO
PURIMM BE IT 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
Cash: $ 11000 $ 19000
Letter of Credit: $5900 5149500
Adopte(! by the City Council on January 9, 1996