HomeMy WebLinkAboutCity Council Resolution 1998-456RESOLUTION NO. 98 - 456
REDUCING REQUIRED FINANCIAL GUARANTEE
BASS LAKE ESTATES 3RD ADDITION (95065)
WHEREAS, in accordance with the development contract dated July 31, 1995, Prime Builders, Inc.,
developer of Bass Lake Estates 3rd Addition (95065), 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 was previously reduced as detailed above and
released by the Finance Department.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-456_58892 CCR 1998-456 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$22,890
$-0-
Sanitary Sewer
11,583
-0-
Watermain
25,108
-0-
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
2,400
-0-
Mitigation Pond Constriction
-0-
-0-
Sediment Pond Constriction
-0-
-0-
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
8,500
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
1,000
-0-
Design, Administration, Inspection, As-Builts
8,602
-0-
TOTAL
$80,283
$ -0-
That the required financial guarantee for the above items was previously reduced as detailed above and
released by the Finance Department.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-456_58892 CCR 1998-456 doe
RESOLUTION NO. 98-456
BASS LAKE ESTATES 3RD ADDITION (95065)
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. 1738 -995 -LS:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $-0-
$8,300 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above be reduced from $1,000 cash to $0
(zero) and Letter of Credit No. 1738 -995 -LS from $3,900 to $0 (zero). The required financial guarantee may
be reduced accordingly and will be released by the Finance Department.
Adopted by the City Council on August 5, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-456_58892 CCR 1998-456 doe