HomeMy WebLinkAboutCity Council Resolution 1998-017RESOLUTION NO. 98 - 17
REDUCING REQUIRED FINANCIAL GUARANTEE
MISSION VIEW ADDITION (94158)
WHEREAS, in accordance with the development contract dated May 1, 1996, Baton Corporation, developer
of Mission View Addition (94158), 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 required financial guarantee for the above items be reduced as detailed above from $93,408 to
$60,928 to reflect the completed work. Money Market Account Number 1915746 may be reduced
accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVCCR 1998-01-58453 CCR 1998-01- doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 77,000
$ 15,400
Sanitary Sewer
93,000
18,600
Watermain
88,000
-0-
Storm Sewer
42,000
-0-
Boulevard and Drainage Swale Sod
5,200
5,200
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
21,000
4,200
Street Signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
260,000
10,000
Park and Trail Improvements
15,000
-0-
Setting Iron Monuments
2,000
1,000
Design, Administration, Inspection, As-Builts
72,456
6,528
TOTAL
$ 676,256
$ 60,928
That the required financial guarantee for the above items be reduced as detailed above from $93,408 to
$60,928 to reflect the completed work. Money Market Account Number 1915746 may be reduced
accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVCCR 1998-01-58453 CCR 1998-01- doe
RESOLUTION NO. 98-17
MISSION VIEW ADDITION (94158)
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:
ITEM
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash:
Financial Guarantee (cash):
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 15,950 $ 15,950
FURTHER BE IT RESOLVED that the storm sewer and watermain constriction is accepted for continual
maintenance as of January 7, 1998 subject to the two year guarantee by the Developer per Maintenance Bond
No. 142319960A issued by American Casualty Company of Reading, Pennsylvania.
Adopted by the City Council on January 7, 1998.
C Documents and Settnig,,esuigeiLocal Settmg, TempVCCR 1998-01-58453 CCR 1998-01- doe