HomeMy WebLinkAboutCity Council Resolution 2002-009RESOLUTION NO. 2002-009
REDUCING REQUIRED FINANCIAL GUARANTEE
ROCKFORD ESTATES ADDITION (93008)
WHEREAS, in accordance with the development contract dated September 30, 1993, Goff Homes, Inc.,
developer of Rockford Estates Addition (93008), 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 reduction 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:
That the letter of credit required for the above items be reduced as detailed above from $32,192 to $0 (zero)
to reflect the completed work. Letter of Credit No. S406203 (which replaced Letter of Credit No. 11515)
may be reduced accordingly and will be released by the Finance Department.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-00953508 CCR 2002-009 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$116,160
$-0-
Sanitary Sewer
45,229
-0-
Watermain
60,686
-0-
Storm Sewer
40,313
-0-
Boulevard and Drainage Swale Sod
6,300
-0-
Mitigation Pond Constriction
-0-
-0-
Drainage Pond Constriction
-0-
-0-
Street signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
63,537
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
3,000
-0-
Design, Administration, Inspection, As-Builts
40,299
-0-
TOTAL
$376,124
$-0-
That the letter of credit required for the above items be reduced as detailed above from $32,192 to $0 (zero)
to reflect the completed work. Letter of Credit No. S406203 (which replaced Letter of Credit No. 11515)
may be reduced accordingly and will be released by the Finance Department.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-00953508 CCR 2002-009 doe
RESOLUTION NO. 2002-009
ROCKFORD ESTATES ADDITION (93008)
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. 11513:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $1,000
$20,000 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items remain at $1,000 cash with
the required financial guarantee being reduced from $5,000 to $0 (zero). Letter of Credit No. S406203
(which replaced Letter of Credit No. 115 13) may be reduced accordingly and will be released by the Finance
Department.
Adopted by the City Council on January 8, 2002.
C Documents and Settnig,unfiee,eLocal Settmg, TempVC(R 2002-00953508 CCR 2002-009 doe