HomeMy WebLinkAboutCity Council Resolution 1998-081RESOLUTION NO. 98 - 81
REDUCING REQUIRED FINANCIAL GUARANTEE
SAVANNAH 2ND ADDITION (95021)
WHEREAS, in accordance with the development contract dated January 23, 1996, Lundgren Brothers
Constriction, Inc., developer of Savannah 2"a Addition (95021), 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 $21,731 to
$4,032 to reflect the completed work. Letter of Credit Number 29249-A may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-081W1- CCR 1998-081 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 63,600
$ -0-
Sanitary Sewer
61,400
-0-
Watermain
35,900
-0-
Storm Sewer
12,200
-0-
Boulevard and Drainage Swale Sod
3,200
3,200
Mitigation Pond Constriction
-0-
-0-
N [-]RP Pond Constriction
-0-
-0-
Street Signs (2 X 200)
400
400
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,360
-0-
Design, Administration, Inspection, As-Builts
21,367
432
TOTAL
$ 199,427
$ 4,032
That the required financial guarantee for the above items be reduced as detailed above from $21,731 to
$4,032 to reflect the completed work. Letter of Credit Number 29249-A may be reduced accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-081W1- CCR 1998-081 doe
RESOLUTION NO. 98-81
SAVANNAH 2ND ADDITION (95021)
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 [see Savannah Addition (93 112)]
Cash:
Financial Guarantee:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ -0- $ -0-
FURTHER BE IT RESOLVED that the street constriction is accepted for continual maintenance as of
February 4, 1998 subject to the one year guarantee by the Developer per Maintenance Bond No. 54085287.
Adopted by the City Council on February 4, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-081W1- CCR 1998-081 doe