HomeMy WebLinkAboutCity Council Resolution 2000-363RESOLUTION NO. 2000-363
REDUCING REQUIRED FINANCIAL GUARANTEE
CONOR MEADOWS PLAT TWO (96150)
WHEREAS, in accordance with the development contract dated June 24, 1998, Centex Homes, a Nevada
General Partnership, developer of Conor Meadows Plat Two (96150), 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 $63,840 to
$61,600 to reflect the completed work. Subdivision Bond No. 5943980 submitted for the financial guarantee
may be reduced from $95,760 (150% x $63,840) to $92,400 (150% x $61,600).
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ORIGINAL
NEW
ITEM
AMOUNT
AMOUNT
Street Construction
$ 57,130
$ -0-
Sanitary Sewer
98,235
-0-
Watermain
59,215
-0-
Storm Sewer
132,160
-0-
Boulevard and Drainage Swale Sod
5,000
-0-
Mitigation Pond Construction
5,000
5,000
NURP Pond Construction
5,875
-0-
Street Signs (200)
-0-
-0-
Site Grading and Drainage Improvements
137,237
50,000
Park and Trail Improvements
9,270
-0-
Setting Iron Monuments
1,500
-0-
Design, Administration, Inspection, As-Builts
61,275
6,600
TOTAL
$ 571,897
$ 61,600
That the required financial guarantee for the above items be reduced as detailed above from $63,840 to
$61,600 to reflect the completed work. Subdivision Bond No. 5943980 submitted for the financial guarantee
may be reduced from $95,760 (150% x $63,840) to $92,400 (150% x $61,600).
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RESOLUTION NO. 2000-363
CONOR MEADOWS PLAT TWO (96150)
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:
ORIGINAL NEW
ITEM AMOUNT AMOUNT
Maintenance of Erosion and Sediment
Control Plan, Street Sweeping, and Storm
Sewer Cleaning (Includes Conor Meadows
Plat 3 (98092))
Cash: $ 1,000 $ 1,000
Letter of Credit No. 042197: $ 21,000 $ 21,000
Adopted by the City Council on July 25, 2000.
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