HomeMy WebLinkAboutCity Council Resolution 1998-601RESOLUTION NO. 98-601
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 be reduced as detailed above from $13,149 to
$5,152to reflect the completed work. The required financial guarantee, in this case cash, may be reduced
accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-60159038 CCR 1998-601 doe
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Constriction
$ -0-
$ -0-
Sanitary Sewer & Water Service/Street Restor
4,300
-0-
Split Existing Sewer & Water Service
300
-0-
Storm Sewer
1,900
-0-
Boulevard and Drainage Swale Sod
800
600
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
-0-
Design, Administration, Inspection, As-Builts
2,028
552
TOTAL
$ 18,928
$ 5,152
That the required financial guarantee for the above items be reduced as detailed above from $13,149 to
$5,152to reflect the completed work. The required financial guarantee, in this case cash, may be reduced
accordingly.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-60159038 CCR 1998-601 doe
RESOLUTION NO. 98-601
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 Letter of Credit No. 1695 in the amount of $1,300 may be substituted
for the cash deposit to guarantee the Sanitary Sewer & Water Service/Street Restoration, Split Existing
Sewer & Water Service, and Storm Sewer constriction which was accepted for continual maintenance on
September 16, 1998.
Adopted by the City Council on October 7, 1998.
C Documents and Settnig,,esvigeiLocal Settmg, TempVCCR 1998-60159038 CCR 1998-601 doe