HomeMy WebLinkAboutCity Council Resolution 1997-056L1
RESOLITTION NO. 97-56
REDUCING REQUIRED FINANCIAL GUARANTEE
SUGAR HILLS 3RD ADDITION (940+4)
WHEREAS, in accordance with the development contract dated June 7, 1994, Eugene R. Forbragd,
Darlene R. Forbragd, Martin N. Harstad, and Janice B. Harstad, developers of Sugar Hills 3rd Addition
(94044), have agreed to install certain improvements for said development; and
WFffitEAS, 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 financial guarantee to reflect the completed
work;
NOW, THEREFORE, BE rr HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, NEDCNESOTA; v.hat the fuuurcial guarantee requirements are reduced as follows:
j 1+
ORIGINAL
AMOUNT
NEW
AM4111iT
Street Construction (Excluding City Projects
$170,687
5-0-
308 and 31
Sanitary Sewer
56,169
-0-
Watetmain (Including ousts for difference
84,735
-0-
abetween
between8" ani 12" watermain)
Storey $ewer
53,617
4
Boulevard and Drainage Swale Sod
61800
4
Mitigation pond Construction
10,000
4
Sediment Pond Construction
150000
4
Street Signs (4 x 200)
800
4
Site Grading and Drainage Improvements
156,000
4
Pari: and T m l Improvements
-a
4
Setting Iron Monuments
2,000
4
Design, Administration, Inspection, As-Builts
&W
A
TOTAL
$622,505
$-0-
That the letter of credit required for the above items be reduced as detailed above from $2,240 to
(zero) to reflect tete completed work. Letter of Credit No. 10913 may be reduced accordingly.
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RESOLUTION NO. 97- 56
RUGAR HILLS 3RD ADDITION (94044)
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:
z_�r � 1►M : � � h
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $1,000 $10000
Letter of Credit No. 10912: $14,300 $7,150
Adopted by the City Council on January 22, 1997
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