HomeMy WebLinkAboutCity Council Resolution 1996-169•
RESOLUTION NO. 96 -169
REDUCING REQUIRED FINANCIAL GUARANTEE
BASS LAKE ESTATES 3RD ADDITION (95065)
WHEREAS, in accordance with the development contract dated July 31, 1995, Prime Builders, Inc.,
developer of Bass Lake Estates 3rd Addition (95065), 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:
That the required financial guarantee for the above items be reduced as detailed above from $19,283 to
$11,063 to reflect the completed work. Letter of Credit No. 1738-995-D1 may be reduced accordingly.
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$22,890
$4,57L
Sanitary Sewer
11,583
-0-
Watermain
25,108
-0-
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
21400
2,400
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (1 x 200)
200
200
Site Grading and Drainage Improvements
8,500
1,700
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
10000
10000
Design, Administration, Inspection, As-Builts
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yup
TOTAL
$80,283
$11,063
That the required financial guarantee for the above items be reduced as detailed above from $19,283 to
$11,063 to reflect the completed work. Letter of Credit No. 1738-995-D1 may be reduced accordingly.
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0
RESOLUTION NO. %- 169
BASS LAKE ESTATES 3RD ADDITION (95065)
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:
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Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1738 -995 -LS:
$1,000 $1,000
$8,300 $8,300
FURTHER E IT RESOLVED that the sanitary sewer and watermain construction. is accepted for continual
maintenance as of March 20, 1996 subject to the Two Year Guarantee by the Developer per Maintenance
Bond No. BNS 1363331.
Adopted by the City Council on March 20, 1996.
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