HomeMy WebLinkAboutCity Council Resolution 1999-366RESOLUTION NO. 99-366
REDUCING REQUIRED FINANCIAL GUARANTEE
KIMBERLY WOODS ADDITION (93018)
WHEREAS, in accordance with the development contract dated July 23, 1993, New Century Homes, Inc.,
developer of Kimberly Woods Addition (93018), 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 was previously reduced to $0 (zero) to reflect the
completed work.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-366_59561\CCR 1999-366.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction (Excluding Co. Rd. 9
$ 24,657
$ -0-
concrete curb and gutter)
Co. Rd. 9 - Bypass Lane
4,640
-0-
Sanitary Sewer
13,865
-0-
Watermain
14,439
-0-
Storm Sewer
7,919
-0-
Boulevard and Drainage Swale Sod
1,600
-0-
Mitigation Pond Construction
-0-
-0-
Sediment/Storage Pond Construction
1,360
-0-
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
4,958
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
-0-
-0-
Design, Administration, Inspection, As-Builts
8,837
-0-
TOTAL
$ 82,475
$ -0-
That the required financial guarantee for the above items was previously reduced to $0 (zero) to reflect the
completed work.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-366_59561\CCR 1999-366.doc
RESOLUTION NO. 99-366
KIMBERLY WOODS ADDITION (93018)
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:
Letter of Credit: No. 1135-6938:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ -0-
$ 1,000 $ -0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
to $0 (zero). Letter of Credit No. 1135-6938 was previously released. The required financial guarantee may
be reduced accordingly and will be released by the Finance Department.
Adopted by the City Council on September 7, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-366_59561\CCR 1999-366.doc