HomeMy WebLinkAboutCity Council Resolution 1997-054F;
RESOLUTION NO, - 54
REDUCING REQUIRED FINANCIAL GUARANTEE
SUNSET VALLEY HOMES ADDITION (87022)
WHEREAS, in accordance with the development contract dated April 10, 1987, Sunset Valley Homes,
Inc., developer of Sunset Valley Homes Addition (87022), 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
VMEREAS, the developer has requested a reduction of the required financial guarantee to re:lect the
completed work;
NOW, THMWORE, BE IT HEIIEBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the: financial guarantee requirements are reduced as follows:
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Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Pond or Ditch Construction
Street Signa
Site Omding and Drainage Improvements
Park and T mil Improvements
Design, Adminis}sation, Inspection, As-Builts
TOTAL
S 35,300
S -0-
239600
-0-
25,000
-0-
6,100
-0-
3,800
4
-0-
-0-
150
4
(See Brading Permit No. 5135)
4)-
11.2
$103j224 $ -0-
That the required letter of credit required for the above items were previously reduced as Mailed above
from $105,224 to (zero) to reflect the completed work
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RESOLUTION NO. - 54
.SUNSET VALLEY HOMES ADDITION (87022)
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:
4M 3
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. MBPO780561-5199
$19000 $ -0-
$19,000 $ -0-
The finaneW guarantee for the above item is hereby mduccd from $1,000 cash to $0 (zero) and the
remaining funds will be released by the Finance Department. In addition, the letter of credit was
previously reduced from $19,000 to $0 (zero).
Adopted by the City Council on January 22, 1997.
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