HomeMy WebLinkAboutCity Council Resolution 2003-414CITY OF PLYMOUTH
RESOLUTION NO. 2003-414
FINAL RELEASE OF FINANCIAL GUARANTEE
ORCHARDS OF PLYMOUTH 2ND ADDITION (96093)
WHEREAS, in accordance with the development contract dated August 8, 1996, Abingdon Development
Corporation, developer of Orchards of Plymouth 2nd Addition (96093), 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 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
Street Construction
Sanitary Sewer
Watermain
Storm Sewer
Boulevard and Drainage Swale Sod
Mitigation Pond Construction
N URP Pond Construction
Street Signs (0 x 200)
Site Grading and Drainage Improvements
Park and Trail Improvements
Setting Iron Monuments
Design, Administration, Inspection, As-Builts
TOTAL
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 18,000
$ -0-
$ -0-
7,000
-0-
-0-
8,500
-0-
-0-
-0-
-0-
-0-
1,000
600
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
-0-
33,000
10,000
-0-
-0-
-0-
-0-
500
500
-0-
8,256
1,332
-0-
$77,056
$ 12,432
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $12,432 to $0
(zero) to reflect the completed work. Subdivision Bond No. 96974 may be reduced accordingly and will be
released by the Finance Department.
RESOLUTION NO. 2003-414
ORCHARDS OF PLYMOUTH 2ND ADDITION (96093)
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-E
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $-0-
$600
-0-
$600 $ -0- $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
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.