HomeMy WebLinkAboutCity Council Resolution 2003-412CITY OF PLYMOUTH
RESOLUTION NO. 2003-412
FINAL RELEASE OF FINANCIAL GUARANTEE
ORCHARDS OF PLYMOUTH ADDITION (94050)
WHEREAS, in accordance with the development contract dated November 9, 1994, ABINGDON
Development Corporation, developer of Orchards of Plymouth Addition (94050), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed the street, utility and site grading as noted below; and
WHEREAS, the developer has requested a final release 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:
ITEM
ORIGINAL
CURRENT
NEW
AMOUNT
AMOUNT
AMOUNT
Street Construction
$65,000
$-0-
$-0-
Sanitary Sewer
90,200
-0-
-0-
Lift Station & Force Main
140,000
-0-
-0-
Watermain
47,625
-0-
-0-
Storm Sewer
25,000
-0-
-0-
Boulevard and Drainage Swale Sod
4,000
1,200
-0-
Mitigation Pond Construction
-0-
-0-
-0-
NURP Pond Construction
4,928
-0-
-0-
Street Signs (2 x 200)
400
-0-
-0-
Site Grading and Drainage Improvements
65,072
2,000
-0-
Park and Trail Improvements
-0-
-0-
-0-
Setting Iron Monuments
1,500
1,500
-0-
Design, Administration, Inspection, As-Builts
53,247
564
-0-
TOTAL
$496,972
$5,264
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $5,264 to $0
(zero) to reflect the completed work. Subdivision Bond No. 81111 may be reduced accordingly and will be
released by the Finance Department.
RESOLUTION NO. 2003-412
ORCHARDS OF PLYMOUTH ADDITION (94050)
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:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and
Storm Sewer Cleaning
Cash
Letter of Credit No. 28765-B
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$10,000 $5,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
and Letter of Credit No. 28765-B in the amount of $5,000 to $0 (zero). The financial guarantee may be
reduced accordingly and will be released by the Finance Department.
Adopted by the City Council on September 23, 2003.