HomeMy WebLinkAboutCity Council Resolution 1996-661•
RESOLUTION NO. % - 661
REDUCING REQUIRED FINANCIAL GUARANTEE
TYLERS UPLAND ADDITION (96035)
WHEREAS, in accordance with the development contract dated June 27, 1996, Bohland Development,
Inc., developer of Tylers Upland Addition (96035), 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:
ITTM
ORIGINAL
AMQVNT
NEW
AMOM
Street Construction
$ 42,000
$ 8,400
Sanitary Sewer
19,500
10-
Watennain
17,000
-0-
Storm Sewer
53,000
-0-
Boulevard and Drainage Swale Sod
3,000
31000
Mitigation Pond Construction
-0•-
-0-
NURP Pond Construction
12,100
-0-
Street Signs (0 x 200)
-0-
-0-
Sito Grading and Drainage Improvements
51,000
-0-
Park and Trail Improvements
31300
-0-
Setting Iron Monuments
2,000
500
Design, Administration, Inspection, As-Bullts
24,348
JLM
TOTAL
$227,248
$13,328
That the requLred financial guarantee for the above items be reduced as detailed above from 8227,248 to
$13,328 to reflect the completed work. Letter of Credit No. 1169 may be reduced accordingly.
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RESOLUTION N0.96- 661
TYLERS UPLAND ADDITION (96035)
Page Two
FURTHFsR M TT RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1170::
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$ 10000 $ 1,000
$ 5,250 $5,250
FURTHER BE IT RESOLVED that the sanitary sewer, watennain, and storm sewer construction is
accepted for continual maintenance as of December 4, 1996 subject to the Two Year Guarantee by the
Developer per Maintenance Bond No. 158-376-964.
Adopted by the City Council on December 4, 1996.
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