HomeMy WebLinkAboutCity Council Resolution 1999-365RESOLUTION NO. 99-365
REDUCING REQUIRED FINANCIAL GUARANTEE
PARKERS LAKE NORTH 7' ADDITION (91103)
WHEREAS, in accordance with the development contract dated December 4, 1991, Laukka-Williams
Parkers Lake, a Minnesota General Partnership, developer of Parkers Lake North 7th Addition (91103), 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 $101,846 to $0
(zero) to reflect the completed work. The required financial guarantee may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-365_59560ACCR 1999-365.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 188,900
$ -0-
Sanitary Sewer
26,900
-0-
Watermain
103,800
-0-
Storm Sewer
93,100
-0-
Boulevard and Drainage Swale Sod
11,000
-0-
Mitigation Pond Construction
-0-
-0-
Pond or Ditch Construction
-0-
-0-
Street Signs (3x150)
450
-0-
Site Grading and Drainage Improvements
241,300
-0-
Park and Trail Improvements
17,574
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
81,963
-0-
TOTAL
$ 764,987
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $101,846 to $0
(zero) to reflect the completed work. The required financial guarantee may be reduced accordingly.
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RESOLUTION NO. 99-365
PARKERS LAKE NORTH 7th ADDITION (91103)
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:
Financial Guarantee:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $-0-
$23,000
-0-
$23,000 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
and a separate financial guarantee in the amount of $3,000 to $0 (zero). The required financial guarantee
may be reduced accordingly and will be released by the Finance Department.
FURTHER BE IT RESOLVED that the street construction is accepted for continual maintenance as of
September 7, 1999.
Adopted by the City Council on September 7, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-365_59560ACCR 1999-365.doc