HomeMy WebLinkAboutCity Council Resolution 2002-540CITY OF PLYMOUTH
RESOLUTION NO. 2002-540
REDUCING REQUIRED FINANCIAL GUARANTEE
SILVERTHORNE 5TH ADDITION (99075)
WHEREAS, in accordance with the development
Development, Inc., developer of Silverthorne 5th
improvements for said development; and
contract dated September 8, 1999, Laurent Land
Addition (99075), has agreed to install certain
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 required financial guarantee for the above items be reduced as detailed above from $2,688 to $672
to reflect the completed work. Letter of Credit No. 30388-A may be reduced accordingly.
ORIGINAL
CURRENT
NEW
ITEM
AMOUNT
AMOUNT
AMOUNT
Street Constriction
$ 37,021
$ -0-
$ -0-
Sanitary Sewer
13,702
-0-
-0-
Watermain
17,515
-0-
-0-
Storm Sewer
1 313
-0-
-0-
Boulevard and Drainage Swale Sod
2,400
2,400
600
Mitigation Pond Constriction
-0-
-0-
-0-
N [_]RP Pond Constriction
-0-
-0-
-0-
Street Signs (200)
-0-
-0-
-0-
Site Grading and Drainage Improvements
-0-
-0-
-0-
Park and Trail Improvements
-0-
-0-
-0-
Setting Iron Monuments
745
-0-
-0-
Design, Administration, Inspection, As-
8,724
288
72
Bullts
TOTAL
$ 81,420
$ 2,688
$ 672
That the required financial guarantee for the above items be reduced as detailed above from $2,688 to $672
to reflect the completed work. Letter of Credit No. 30388-A may be reduced accordingly.
RESOLUTION NO. 2002-540
SILVERTHORNE 5TH ADDITION (99075)
Page Two
FURTHER BE IT RESOLVED that the financial guarantee requirements for the following items per Section
8.1 of the approved development contract remain as follows:
ORIGINAL NEW NEW
ITEM AMOUNT AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning [Included in Silverthorne 4"'
Addition — (97133)]
Cash: $ -0- $ -0- $ -0-
Financial Guarantee: $ -0- $ -0- $ -0-
Adopted by the City Council on November 26, 2002.