HomeMy WebLinkAboutCity Council Resolution 1998-105RESOLUTION NO. 98 - 105
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 $60,928 to
$38,976 to reflect the completed work. Money Market Account Number 1915746 may be reduced
accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-105W41 1998-105 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ 77,000
$ 15,400
Sanitary Sewer
93,000
-0-
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
-0-
Design, Administration, Inspection, As-Builts
72,456
4,176
TOTAL
$ 676,256
$ 38,976
That the required financial guarantee for the above items be reduced as detailed above from $60,928 to
$38,976 to reflect the completed work. Money Market Account Number 1915746 may be reduced
accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-105W41 1998-105 doe
RESOLUTION NO. 98-105
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 sanitary sewer constriction is accepted for continual maintenance as
of February 18, 1998 subject to the two year guarantee by the Developer per Maintenance Bond No. 142 319
960B issued by American Casualty Company of Reading, Pennsylvania.
Adopted by the City Council on February 18, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-105W41 1998-105 doe