Agenda - Council - 08/24/1993 - Laserfiche WebLink

Home

Stage I improvement maintenance guarantee with the CITY. SMd maintenance guarantee shall be deposited with the CITY at the time Stage I Improvements are accepted by the CITY and prior to release by the CITY of the financial guarantee required by Paragraph 8 above. The $10,000 maintenance guarantee shall be held by the CITY for a one (t) year period from the date of its deposit. This financial guarantee is for the purpose of ensuring that the Stage I improvements have been constructed in accordance with city standards and may be called upon at the CITY'S discretion during said one (1) year period ff the CITY determ/nes it necessary to repair and/or replace any of the Stage I improvements. Said £manciaI guarantee shall be in the form of a letter of credit, approved as to form by the CITY. II. STAGE II IMPROVEMENTS AND FINANCIAL GUARANTEES: 10. Street Cleaning, From rime to rime, the CITY may remove accumulations of soil, earth and debris from the streets resulting from the construction of the Plat. It shall be the DEVELOPER'S responsibility to pay the costs associated with this necessary street cleaning. Invoices from the CITY to DEVELOPER for such costs shall be paid within fifteen (15) days of the date of invoice. l l. StreetJTraffic. Signs, Street Liehts, Street Cleaning and..Seal Coating. The CITY wi//install in the Plat, as Stage II Improvemen.ts, street/traffic signs and sealcoaring. The DEVELOPER will pay to the CITY as amount equal to 100% of the City Engineer's estimated construction cost of the items prior to recording of the final Plat. The DEVELOPER shall also deposit an amount that is determined by the CITY to be adequate to aid in the operation and maintenance of street lights in locations determined by the City Engineer and inst~lted by Anoka Electric Cooperative for the first three (3) years. The CITY will bill residents in the Plat at least quarterly for street light ma/ntenance and operation costs; billings will be initiated at the time of connection to murficipal water and sarfitary sewer. The cost of these items is: Street Cleaning Sealcoating One (1) Traffic Sign(s) ' . One (1) Street Sigm(s) Five (5) Street Light(s) . Street Light Maintenance & Operation (3 Years) TOTAL $300.00 $2,250.00 $120.00 $120.00 $2,200.00 $1,350.00 $6,340.00 i I I I I. I I I I I I I I I I I I i I