HomeMy WebLinkAboutCity Council Resolution 1997-055RESOLUTION NO. . 55
REDUCING DEVELOPMENT BOND
SUGAR HILLS 2ND ADDITION (93084)
VaEM EAS, in accordance with the development contract dated September 7, 1993, Eugene R. Forbragd
and Darlene A. Forbragd, developers of Sugar Bills 2nd Addition (93084), have agreed to install arta:.,
improvements for said development; and
Wi13UUW, the developers have completed a portion of the street, utility and site grading as noted below;
and
WHEREAS, the developers have requested a reduction of the development bond to reflect the completed
work;
NOW, THEREFORE, BE IT HEREBY ABSOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA; that the bonding requirements are .-,duced as follows:
EMU
ORIGINAL
AMOUNT
NEW
--WOINT
Street Construction (Excluding City Proj.
$106,000
$4
No's 308 8t 310)
Sanitary Sewer
125,000
4
Watermain
116,000
4
Storm Sewer
138,000
4
Boulevard and DndnW Swale Sod
11,000
10800
Mitigation Pond Construction
4
4
Sediment Pond Construction
33,500
4
Street Signs (5 x 200)
10000
4
Site Grading and Drainage Improvements
141,500
4
Park and Trail Improvements
4
4
Setting Iron Monuments
3,000
4
Design, Administration, Inspection, As-Builts
105,000
216
TOTAL
59800000
$20016
That the letter of credit required for the above items be reduced as detailed above from $6,664 to
$2,016 to reflect the completed work. Latter of Credit No. 10911 may be reduced accordingly.
RESOLUTION NO. .55
SUGAR HILLS 2ND ADDITION (93084)
Pap Two
FURTHER BE IT RESOLVED that the bonding 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, SUM Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 10909:
Adopted by the City Council on January 22, 1997.
$1,000
$20,750
$1,000
$10,375
0