HomeMy WebLinkAboutCity Council Resolution 1999-342RESOLUTION NO. 99 - 342
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 $38,976 to
$5,040 to reflect the completed work. Money Market Account Number 1915746 may be reduced
accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-342_59537VCCR 1999-342.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 77,000
$ -0-
Sanitary Sewer
93,000
-0-
Watermain
88,000
-0-
Storm Sewer
42,000
-0-
Boulevard and Drainage Swale Sod
5,200
2,500
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
21,000
2,000
Street Signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
260,000
-0-
Park and Trail Improvements
15,000
-0-
Setting Iron Monuments
2,000
-0-
Design, Administration, Inspection, As-Builts
72,456
540
TOTAL
$ 676,256
$ 5,040
That the required financial guarantee for the above items be reduced as detailed above from $38,976 to
$5,040 to reflect the completed work. Money Market Account Number 1915746 may be reduced
accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-342_59537VCCR 1999-342.doc
RESOLUTION NO. 99-342
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 street construction is accepted for continual maintenance as of
August 20, 1999 subject to the four year guarantee by the Developer per Maintenance Bond No. 142 319
960C issued by American Casualty Company of Reading, Pennsylvania.
Adopted by the City Council on August 20, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-342_59537VCCR 1999-342.doc