HomeMy WebLinkAboutCity Council Resolution 2003-547CITY OF PLYMOUTH
RESOLUTION NO. 2003-547
FINAL RELEASE OF FINANCIAL GUARANTEE
PLYMOUTH OAKS ADDITION (93078)
WHEREAS, in accordance with the development contract dated October 25, 1993, Dahlstrom Companies,
Inc., D.W. Peterson Homes, Inc. and Tony Eiden Company, developer of Plymouth Oaks Addition (93078),
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 the release of the 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
$227,000
$ -0-
$ -0-
Sanitary Sewer
130,000
-0-
-0-
Watermain
81,000
-0-
-0-
Storm Sewer
44,000
-0-
-0-
Boulevard and Drainage Swale Sod
8,000
-0-
-0-
Mitigation Pond Construction
15,750
-0-
-0-
Sediment Pond Construction
5,250
-0-
-0-
Street Signs (4 x 200)
800
-0-
-0-
Site Grading and Drainage Improvements
84,000
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
Setting Iron Monuments
4,000
-0-
-0-
Design, Administration, Inspection, As-Builts
71,976
-0-
-0-
TOTAL
$671,776
$ -0-
$-0-
That the financial guarantee required for the above items be has been to $0 (zero) to reflect the completed
work. Letter of Credit No. 28214-C was released by the Finance Department.
RESOLUTION NO. 2003-547
PLYMOUTH OAKS ADDITION (93078)
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 (See grading Permit No. 56606
for Required Financial Guarantees)
Cash:
Letter of Credit: 28214-A,
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$1,000 $1,000 $-0-
$29,000 $ -0- $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero). The remaining funds will be released by the Finance Department.
Adopted by the City Council on November 25, 2003.