HomeMy WebLinkAboutCity Council Resolution 1996-630•
RESOLUTION NO. 9& 630
REDUCING REQUIRED FINANCIAL GUARANTEE
BRIDLEWOOD FARM 3RD ADDITION (93021)
WHEREAS, in accordance with the development contract dated June 5, 1993, U.S. Home Corporation,
developer of Bridlewood Farm 3rd Addition (93021), 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,
EMM
ORIGINAL
AMOK
NEW
AMORT
Street Construction (Except City Proj. No. 304)
$174,000
$-0-
Sanitary Sewer (Except City Proj. No. 304)
35,700
-0-
Watermain (Except City Proj. No. 304)
47,700
-0-
Storm Sewer (Except City Proj. No. 304)
64,200
-0-
Boulevard and Drainage Swale Sod
100400
-0-
Pond or Ditch Construction
-0-
-0-
Street Signs (5 x 200)
1,00n
-0-
Site Grading and Drainage Improvements
379,800
-0-
Park and Trail Improvements
37,000
-0-
Setting Iron Monuments
7,350
-0-
Design, Administration, Inspection, As-Builts
90,818
-0-
TOTAL
TOTAL
5848,008
$-0-
That the financial guarantee required for the above items be reduced as detailed above from $5,600 to $0
(zero) to reflect the completed work, Letter of Credit No, FOAC - 93052 may be reduced accordingiy
and will be released by the Finance Department,
•
RESOLUTION No, W 630
UWLEWOOD FARM 3RD ADDITION (93021)
Pale Two
FURTHER BE rr RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
a,, i WA,
%7j 0IONY : u I 1►Y
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash: $12000 $ 1,000
Letter of Credit: $579000 $14,250
Adopted by the City Council on November 20, 1996.
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