HomeMy WebLinkAboutCity Council Resolution 1999-465RESOLUTION NO. 99-465
REDUCING REQUIRED FINANCIAL GUARANTEE
PLUM TREE 4TH ADDITION (98019)
WHEREAS, in accordance with the development contract dated April 2, 1998, Lundgren Bros. Construction,
Inc., developer of Plum Tree 4th Addition (98019), 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 $34,300 to
$2,240 to reflect the completed work. Letter of Credit No. 18384 may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-465_59664\CCR 1999-465.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 130,000
$ -0-
Sanitary Sewer
57,000
-0-
Watermain
3 5, 000
-0-
Storm Sewer
52,000
-0-
Boulevard and Drainage Swale Sod
2,000
2,000
Mitigation Pond Construction
-0-
-0-
N URP Pond Construction
-0-
-0-
Street Signs (3 x 200)
600
-0-
Site Grading and Drainage Improvements
45,000
-0-
Park and Trail Improvements
8,000
-0-
Setting Iron Monuments
2,025
-0-
Design, Administration, Inspection, As-Builts
39,795
240
TOTAL
$ 371,420
$ 2,240
That the required financial guarantee for the above items be reduced as detailed above from $34,300 to
$2,240 to reflect the completed work. Letter of Credit No. 18384 may be reduced accordingly.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-465_59664\CCR 1999-465.doc
RESOLUTION NO. 99-465
PLUM TREE 4TH ADDITION (98019)
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:
Letter of Credit No. 18320:
ORIGINAL NEW
AMOUNT AMOUNT
$ 1,000 $ 1,000
$ 2,000 $ 2,000
FURTHER BE IT RESOLVED that the street construction is accepted for continual maintenance as of
November 2, 1999 subject to the two year guarantee by the Developer per Maintenance Bond No. 54099655
issued by United Fire and Casualty Company.
Adopted by the City Council on November 2, 1999.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 1999-465_59664\CCR 1999-465.doc