HomeMy WebLinkAboutCity Council Resolution 1997-013n
RESOLUTION NO. - 13
REDUCING REQUIRED FINANCIAL GUARANTEE
SAVANNAH 2ND ADDITION (95021)
WHEREAS, in accordance with the development contract dawd January 23, 1996, Lundgren Brothers
Construction, Inc., developer of Savannah god Addition (95021), has agreed to install certain improvements
for said development; and
WHEREAS, t'ae 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:
17MM
ORIGINAL
NEW
AMOUNT
Street Construction
$ 63,600
$ 14,443
Sanitary Sewer
61,400
4
Watermain
35,900
4
Storm Sewer
12,200
4
Boulevard and Drainage Swale Sod
3,200
3,200
Mitigation Pond Construction
4
4
NURP Pond Construction
4
4
Street Signs (2 X 200)
400
400
Site Grading and Drainage Improvements
4
4
Park and Trail Improvements
4
4
Setting Iron Monuments
1,360
1,360
Design, Administration, Inspection, As-Builts
91,367
TOTAL
$199,427
$ 210731
That the required financial guarantee for the above items be reduced as detailed above from $62,003 to
$21,731 to reflect the completed work. Letter of Credit Number 29249-A may be reduced accordingly.
%1CRyylyNoll%tNGND VLMRMW95MNRLSOL%PG%MIA.000
F)
RESOLUTION NO. -13
SAVANNAH 2ND AD MUN (95021)
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:
Maintenance of Erosion and Sediment
Control Plan Street Sweeping and Storm
Sewer Cleaning
Cash:
Financial Guarantee:
WXj
$ 1,000 $17000
$ 45,500 $ 22,750
FURTHER BE IT RESOLVED that the sanitary sewer, watermain, and storm sewer construction is
accepted for continual maintenance as of January 8, 1997 subject to th; Two Year Guarantee by the
Developer per Maintenance Bond No. 54085287.
Adopted by the City Cotmcil on January 8, 1997.
\\CNY.DIY1w11\6NQIpBVILIM3\9SV�021111ISOL1FfMW IA.DOC
•