HomeMy WebLinkAboutCity Council Resolution 1997-682•
RESOLUTION NO. 97 - 682
REDUCING REQUIRED FINANCIAL GUARANTEE
TYLERS UPLAND ADDITION (96035)
WHEREAS, in acrordance 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 toted 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 THF CITY OF
PLYMOUTH, MINNESOTA; that the financial guarantee requirements are reduced as follows:
That the required ftnvneial guarantee for the above items be reduced as detailed above from $13,328 to
$9.968 to reflect the completed work. Letter of Credit No. 1169 may be reduc'd accordingly.
N`�i�r�trum`q INaYtmv.ltdUNUUReham��URew:�i ` R&I"C42 roe
•
ORIGINAL
NEW
ITI'eM
AMOM
AMOUNT
Street Construction
$ 42,000
$ 8,400
Sanitary Sewer
19,500
-0-
Watermain
17,000
-0-
Storm Sewer
53,000
-0-
Boulevard and Drainage Swale Soo'
31000
4
Mitigation Pond Construction
-0-
-0-
NURP Pond Construction
126100
4
Street Signs (0 x 200)
-0-
-0-
Site Grading and Drainage Improvements
51,000
-0-
Park and Trail Improvements
3,300
4
Settmg Iron Monuments
2,000
500
Design, Adnunistntion. Inspection, As-Builts
24,348
L$
TOTAL.
$ 227,248
$ 9.968
That the required ftnvneial guarantee for the above items be reduced as detailed above from $13,328 to
$9.968 to reflect the completed work. Letter of Credit No. 1169 may be reduc'd accordingly.
N`�i�r�trum`q INaYtmv.ltdUNUUReham��URew:�i ` R&I"C42 roe
•
•
.W. LUTION NO. 97-M
TYLERS UPLAND ADDITION (96035)
Page Two
FURTHER BE rr RESOLVED that the financial guarantee requirements for the following items per
Section 8.1 of the approved development contract be reduced as follows:
RK
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Letter of Credit No. 1170::
` T
1 : v DI jzI
$1.000 $ 1,000
$ 5,250 $-0-
FURTHER BE rr RESOLVED that the financial guarantee for the above items remain at $1,000 cash
with Letter of Credit No. 1170 being reduced from $5.250 to $0 (zero). The financial guarantee may be
reduced accordingly and will be released by the Finance Department.
Adopted by the City Council on November 5, 1997.
wAdMIM INUWWMWM%r0UNrILUtIWuu•.NTemnlwmmmCCRu9743-dw
s