HomeMy WebLinkAboutCity Council Resolution 1998-079RESOLUTION NO. 98 - 79
REDUCING REQUIRED FINANCIAL GUARANTEE
INVERNESS ADDITION (94028)
WHEREAS, in accordance with the development contract dated March 13, 1995, Henry J. Lazniare and Gina
M. Lazniarz, developers of Inverness Addition (94028), have 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 $23,959 to
$17,149 to reflect the completed work. Letter of Credit No. 28980-A may be reduced accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998-0-9W CCR 1998-0-9 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 25,533
$ 4,125
Sanitary Sewer
29,711
5,942
Watermain
17,886
3, 577
Storm Sewer
4,841
968
Boulevard and Drainage Swale Sod
1,000
400
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
1,100
-0-
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
20,900
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
300
300
Design, Administration, Inspection, As-Builts
12,177
1,837
TOTAL
$113,648
$17,149
That the required financial guarantee for the above items be reduced as detailed above from $23,959 to
$17,149 to reflect the completed work. Letter of Credit No. 28980-A may be reduced accordingly.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998-0-9W CCR 1998-0-9 doe
RESOLUTION NO. 98-79
INVERNESS ADDITION (94028)
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. 28980-13:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $1,000
$4,100 $2,000
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 $4,100 to $2,000. Letter of Credit No. 28980-B may be
reduced accordingly.
Adopted by the City Council on February 4, 1998.
C Documents and Settnig,,esuigeiLocal Settmg, TempVC(R 1998-0-9W CCR 1998-0-9 doe