HomeMy WebLinkAboutCity Council Resolution 1999-260RESOLUTION NO. 99-260
REDUCING REQUIRED FINANCIAL GUARANTEE
SEVEN PONDS 6TH ADDITION (93031)
WHEREAS, in accordance with the development contract dated May 5, 1993, Hans Hagen Homes, Inc.,
developer of Seven Ponds 6th Addition (93031), 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 $3,360 to $0
(zero) to reflect the completed work. The Performance Bond in the amount of $5,040 (150% of $3,360) may
be reduced accordingly and will be released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-260_59455\CCR 1999-260.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$-0-
$-0-
Sanitary Sewer
-0-
-0-
Watermain
-0-
-0-
Storm Sewer
-0-
-0-
Boulevard and Drainage Swale Sod
2,600
-0-
Mitigation Pond Construction
-0-
-0-
N URP Pond Construction
-0-
-0-
Street Signs (2 x 200)
400
-0-
Site Grading and Drainage Improvements
-0-
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
360
-0-
TOTAL
$3,360
$-0-
That the required financial guarantee for the above items be reduced as detailed above from $3,360 to $0
(zero) to reflect the completed work. The Performance Bond in the amount of $5,040 (150% of $3,360) may
be reduced accordingly and will be released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-260_59455\CCR 1999-260.doc
RESOLUTION NO. 99-260
SEVEN PONDS 6TH ADDITION (93031)
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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning
Cash: $ -0- $ -0-
Financial Guarantee: $ -0- $ -0-
Adopted by the City Council on June 1, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-260_59455\CCR 1999-260.doc