HomeMy WebLinkAboutCity Council Resolution 2000-155RESOLUTION NO. 2000-155
REDUCING REQUIRED FINANCIAL GUARANTEE
INVERNESS ADDITION (94028)
WHEREAS, in accordance with the development contract dated March 13, 1995, Henry J. Lazniare and Gina
M. Lazniarz, developers of Inverness Addition (94028), have 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 $17,149 to $0
(zero) to reflect the completed work. Letter of Credit No. 28980-A may be reduced accordingly and will be
released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-155_67040ACCR 2000-155.doc
ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 25,533
$ -0-
Sanitary Sewer
29,711
-0-
Watermain
17,886
-0-
Storm Sewer
4,841
-0-
Boulevard and Drainage Swale Sod
1,000
-0-
Mitigation Pond Construction
-0-
-0-
Sediment Pond Construction
1,100
-0-
Street Signs (1 x 200)
200
-0-
Site Grading and Drainage Improvements
20,900
-0-
Park and Trail Improvements
-0-
-0-
Setting Iron Monuments
300
-0-
Design, Administration, Inspection, As-Builts
12,177
-0-
TOTAL
$113,648
$ -0-
That the required financial guarantee for the above items be reduced as detailed above from $17,149 to $0
(zero) to reflect the completed work. Letter of Credit No. 28980-A may be reduced accordingly and will be
released by the Finance Department.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-155_67040ACCR 2000-155.doc
RESOLUTION NO. 2000-155
INVERNESS ADDITION (94028)
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. 28980-13:
ORIGINAL NEW
AMOUNT AMOUNT
$1,000 $-0-
$4,100 $-0-
FURTHER BE IT RESOLVED that the financial guarantee for the above items be reduced from $1,000 cash
and Letter of Credit No. 28980-B in the amount of $2,000 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, watermain, sanitary sewer and storm sewer construction is
accepted for continual maintenance as of March 21, 2000.
Adopted by the City Council on March 21, 2000.
C:ADoc=cnts and Settingsubaird\Local Settings\Temp\CCR 2000-155_67040ACCR 2000-155.doc