HomeMy WebLinkAboutCity Council Resolution 1998-564RESOLUTION NO. 98-564
REDUCING REQUIRED FINANCIAL GUARANTEE
ROUNDS ADDITION (95035)
WHEREAS, in accordance with the development contract dated July 24, 1995, John M. Rounds and Ruth A.
Rounds, developer of Rounds Addition (95035), 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 remain as detailed above in the amount of $13,149.
The required financial guarantee, in this case cash, must remain in effect accordingly.
* The Developer has requested that cash deposited as the financial guarantee in the amount of $1,340 be
used in lieu of the required maintenance bond.
C Documents and Settnig,,esvigeiLocal Settmg, TempVC(R 1998-56459001 CCR 1998-564 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ -0-
$ -0-
Sanitary Sewer & Water Service/Street Restor
4,300
860*
Split Existing Sewer & Water Service
300
100*
Storm Sewer
1,900
380*
Boulevard and Drainage Swale Sod
800
800
Mitigation Pond Constriction
-0-
-0-
N [-]RP Pond Constriction
-0-
-0-
Street Signs (200)
-0-
-0-
Site Grading and Drainage Improvements
4,000
4,000
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
5,600
5,600
Design, Administration, Inspection, As-Builts
2,028
1,409
TOTAL
$ 18,928
$ 13,149
That the required financial guarantee for the above items remain as detailed above in the amount of $13,149.
The required financial guarantee, in this case cash, must remain in effect accordingly.
* The Developer has requested that cash deposited as the financial guarantee in the amount of $1,340 be
used in lieu of the required maintenance bond.
C Documents and Settnig,,esvigeiLocal Settmg, TempVC(R 1998-56459001 CCR 1998-564 doe
RESOLUTION NO. 98-564
ROUNDS ADDITION (95035)
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
$ 400 $ 400
FURTHER BE IT RESOLVED that the Sanitary Sewer & Water Service/Street Restoration, Split Existing
Sewer & Water Service, and Storm Sewer constriction is accepted for continual maintenance as of
September 16, 1998 subject to the two year guarantee by the Developer in the form of a cash deposit.
Adopted by the City Council on September 16, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVC(R 1998-56459001 CCR 1998-564 doe