HomeMy WebLinkAboutCity Council Resolution 1996-539RESOLUTION NO. % - 539
REDUCING REQUIRED FINANCIAL GUARANTEE
CHURCHELL FARMS 4= ADDITION (92022)
WHEREAS, in acro -dance with the development contract dated April 29, 1996, Lundgren Bros.
Constriction, Inc., developer of Churchill Farms 4" Addition (92022), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has complexed 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, THE1RBFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF= 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 $1,120 to $0
(zero) to reflect the completed work. Letter of Credit No. 921009-1A(4) may be reduced accordingly and
will be released by the Finance Department.
�1cpgWol ��fitlOU16YLIAM's970Q11RG7oL�F09]Qil.00c
ORIGINAL
NEW
YrF.Ds
AMOUNT
AMO
Street Construction
$82,000
$ -0-
Sanitary Sewer
359000
-0-
Watermain
29,000
-0-
Storm Sewer
36,000
-0-
Boulevard and Drainage Swale Sod
39600
-0-
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-0-
-0-
Street Signs (1 x 150)
leo
-0-
Site Grading and Drainage Impiovements
70,300
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
30.12
g
TOTAL
$ 286,776
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $1,120 to $0
(zero) to reflect the completed work. Letter of Credit No. 921009-1A(4) may be reduced accordingly and
will be released by the Finance Department.
�1cpgWol ��fitlOU16YLIAM's970Q11RG7oL�F09]Qil.00c
11
RESOLUTION NO. 96- 539
CHURCHILL FARMS 4" r ADDITION (92022)
Pap Two
FURTHER BE lT 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:
F-16 Liki—Xv �013 (11 mil
$ 10000 $-0-
$17,250
-0-
$17,250 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items is hereby reduced from
$1,000 cash to $0 (zero) with the required Letter of Credit No. 921009-1D(2) reduced from $3,450 to $0
(zero). The cash was previously returned and the letter of credit will be released by the Finance
Department.
Adopted by the City Council on October 2, 1996,
NOy�pq\rd I \1i110'dM�V I Al HTd1f7Dri�11170 L\�O.�Ad.000