HomeMy WebLinkAboutCity Council Resolution 2003-579CITY OF PLYMOUTH
RESOLUTION NO. 2003-579
FINAL RELEASE OF FINANCIAL GUARANTEE
BRIDGID GLEN ADDITION (98063)
WHEREAS, in accordance with the development contract dated August 20, 1998, JANCO, Inc.,
developer of Bridgid Glen Addition (98063), 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 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 (1 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
$ 56,230
$ -0-
$ -0-
39,557
-0-
-0-
53,180
-0-
-0-
21,580
-0-
-0-
3,400
1,800
-0-
-0-
-0-
-0-
6,000
-0-
-0-
200
200
-0-
58,800
-0-
-0-
-0-
-0-
-0-
1,050
-0-
-0-
28,800
240
-0-
$268,797
$ 2,240
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $2,240
to $0 (zero) to reflect the completed work. The financial guarantee, in this case Subdivision Bond
No. 131642, may be reduced accordingly and released by the Finance Department.
RESOLUTION NO. 2003-579
BRIDGID GLEN ADDITION (98063)
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. 98-07:
Adopted by the City Council on December 16, 2003.
ORIGINAL CURRENT NEW
AMOUNT AMOUNT AMOUNT
$ 1,000 $ 1,000 $ -0-
$ 16,100 $ 8,000 $ -0-