HomeMy WebLinkAboutCity Council Resolution 1997-732•
RESOLUTION NO. 97 - 732
REDUCING REQUIRED FINANCIAL GUARANTEE
JARNES ADDITION (95129)
WHEREAS, in accordance with the development contract dated February 8, 1996, The Norman P. James
Revocable Trust, developer of James Addition (95129), 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
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:
EM
ORIGINAL
AMOUNT
NEW
AMOUNT
Street Construction
$5,900
S 3,000
Sanitary Sewer
17,650
3,530
Water Services
40200
840
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
800
400
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
-01
-0-
Street signs (200)
-0-
-0-
Site Grading and Drainage Improvements
11,500
4,000
Park and Trail Improvements
4-
-0-
Setting Iron Monuments
-0-
10 -
Design, Administration, Inspection, As-Builts
4,806
1M
TOTAL
S 449856
S 13,182
That the required financial guarantee for the above items be reduced as detailed above from 518,110 to
$13,182 to reflect the completed work. Letter of Credit No. 6355 may be reduced accordingly.
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RESOLUTION NO, 97-732
jARNES ADDITION (95129)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved development contract remain as follows:
0
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaa.ng
Cash:
Financial Guarantee:
dopted by the City Council on December 3, 1997.
i
$1,000 $19000
S -0- $-0-
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