HomeMy WebLinkAboutCity Council Resolution 1996-138RESOLUTION NO. 96-138
REDUCING REQUIRED MP ANCIAL GUARANTEE
CURTIS LAKE ADDITION (90105)
WHEREAS, in accordance with the development contract dated June 17, 1991 and the supplemental pond
maintenance agreement dated June 17, 1991, Blue and Gold Company, developer of Curtis Lake Addition
(90105), 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 THE CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
Fivakv)-1
Street Construction (excluding Proj. No's 0151011)
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signs
Site Grading and Drainage Improvements
Park and Trail Improvements
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL NEW
i
AMOUNT :MO ►
$83,500
$-0-
6600
-0-
59,000
-0-
50,000
-0-
10,000
-0-
-0-
-0-
600
-0-
65,000
-0-
-0-
-0-
40,092
$3749192 $.0.
That the required financial guarantee for the above items was previously reduced as detailed above from
$1,120 to $0 (zero) to reflect the completed work. Letter of Credit No. 2788 was reduced accordingly
and was previously released by the Finance Department.
0: �ENa1DEV LMNM90105\RES1)L\RR90105.DOC
RESOLUTION NO. 96-138
CURTIS LAKE ADDITION (90105)
Par 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:
YY „
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning (See Grading Permit No. 42235
for required financial guarantees)
Cash:
Letter of Credit:
ORIGINAL '
:„Ob :M• 1►Y
$10000 $ -0-
$54,800 $ 4) -
FURTHER BE IT RESOLVED that the financial guarantee for the above items is hereby reduced from
$1,000 cash to $0 (zero) and all remaining funds will be released by the Finance Department.
Adopted by the City Council on March 6, 1996.