HomeMy WebLinkAboutCity Council Resolution 2003-545CITY OF PLYMOUTH
RESOLUTION NO. 2003-545
FINAL RELEASE OF FINANCIAL GUARANTEE
CONOR MEADOWS PLAT TWO (96150)
WHEREAS, in accordance with the development contract dated June 24, 1998, Centex Homes, a Nevada
General Partnership, developer of Conor Meadows Plat Two (96150), has agreed to install certain
improvements for said development; and
WHEREAS, the developer has completed the street, utility and site grading and mitigation pond 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 (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
$ 57,130
$ -0-
$-0-
98,235
-0-
-0-
59,215
-0-
-0-
132,160
-0-
-0-
5,000
-0-
-0-
5,000
5,000
-0-
5,875
-0-
-0-
-0-
-0-
-0-
137,237
-0-
-0-
9,270
-0-
-0-
1,500
-0-
-0-
61,275
600
-0-
$571,897
$ 5,600
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $5,600 to $-0-
(zero) to reflect the completed work. Subdivision Bond No. 5943980 submitted as the financial guarantee
will be reduced accordingly and released by the Finance Department.
RESOLUTION NO. 2003-545
CONOR MEADOWS PLAT TWO (96150)
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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (Includes Conor Meadows
Plat 3 (98092))
Cash: $ 1,000 $ -0-
Letter of Credit No. 042197: $ 21,000 $ -0-
Adopted by the City Council on November 25, 2003.