HomeMy WebLinkAboutReturn Letter of CreditMayorTammy de Weerd
City Council Members:
Keith Bird
Brad Hoaglun
Charles Rountree
David Zaremba
August 27, 2009
Attn: John Comstock
Washington Trust Bank
945 West Bannock Avenue
Boise, ID 83704
Re: Release of Letter of Credit No. 24406 (Three Corners Subdivision) for David J.
Dean
After a site inspection and review of the above referenced project by the Planning
Department and the Public Works Department, it has been determined to release Letter
of Credit No. 24406 in the original amount of $3,845.68 to you for the completion of
internal sanitary sewer and water. Please use this letter as authorization for
Washington Trust Bank to release Letter of Credit No. 24406.
If you have any questions, please contact me at (208) 888-4433. Thank you for your
cooperation.
Sincerely,
;~~~~
Ja ceL e~man
Y
City Clerk
Enclosure
Washins~tonTrust Bank ~
PF~IV-';i'L- I.~ti KI ~Cy
IRREVOCABLE STANDBY
LETTER OF CREDIT N0.24406
AMOUNT: $3,845.68
DATE: MARCH 4, 2009
City of Meridian
860 E. Watertower Street, Suite 200
Meridian, Idaho 83642
Gentlemen:
We hereby establish our Irrevocable Standby Letter of Credit No. 24406 in your favor for the account of
DAVID J. DEAN, 1992 S. COLE ROAD, BOISE, IDAHO 83709-2813, up to the aggregate amount of
THREE THOUSAND EIGHT HUNDRED FORTY FIVE AND 68/100 ---Dollars ($3,845.68) U.S.
currency, available by your draft(s) drawn at sight on us and presented to Washington Trust Bank on or before
September 4, 2009 covering THREE CORNERS SUBDIVISION and companied by the following:
1. A signed statement from the City of Meridian reading exactly as follows:
"I, the undersigned duly authorized representative of the City of Meridian, hereby certify that
the draft drawn under this Letter of Credit represents the amount of money required to complete
the subdivision improvements at THREE CORNERS SUBDIVISION."
2. Original of this Letter of Credit.
All drafts presented under the credit must contain the clause "Drawn under Washington Trust Bank Letter of
Credit No. 24406".
Any and all banking charges, other than those of the issuing bank, are for the account of the beneficiary.
We hereby engage with the drawers and bona fide holders of drafts drawn under and in compliance with the
terms of this Letter of Credit that the drafts will be duly honored upon presentation and delivery of documents,
as specified, to Washington Trust Bank, Fairview Branch, 3251 E. Presidential Drive, Meridian, ID 83642, on
or before .
All drawings under this credit will be governed by the Uniform Customs & Practice for Documentary Credits
(2007 Revision) International Chamber of Commerce Publication No. 600.
Sincerely,
ff F •~
~.~ ~ dO~Il OC
V--ice Preside t
~ ~Jashingto Trust Bank
F'
,.
,~
Southeni Idaho Region 945 West Bannock Avenue Boise, Idaho 83704
Phone (208) 343-3589 Fax (208) 385-5039
watrust.com
Page 1 of 1
Jaycee Holman
From: Scott Steckline
Sent: Monday, August 24, 2009 10:08 AM
To: Jaycee Holman
Subject: Three Conrners LOC
Attachments: Three Corners.xls
Jaycee,
Please release the LETTER OF CREDIT for Three Corners Subdivision
LOC# 24406
Original Letter of Credit #: 24406
Financial Institution: WASHINGTON TRUST BANK
Portion to be released: $3,845.68
This release is due to the developer performing all conditions of the platting process.
SCOTT STEC,K_T_.TNF
Land Development Supervisor
Meridian Public Works Department
33 E. Broadway Ave, Suite 102
Meridian, Idaho 83642
Ph: (208) 898-5500 Fax: (208) 898-9551
E-Mail: sstecklinela~,meridiancity.org
8/25/2009
SURETY SPREADSHEET
Project Name: Three Comers
Date Compiled: 3/10/2009
Letter of CrediUBond No.: 24406
Issued By: Washington Trust Bank
Expiration Date: 9/4/2009
Check No.:
Party Responsible Date Signed Off/
Item Unfinished Partial Sure For Si n-Off Person Comments
j Sanitary Sewer -intemal ~ $2,296.13 $0.00 $2,296.13 Public Works
~ Sanitary Sewer-offsite $0.00 $0.00
Water-intemal $1,549.55
$0.00
$1,549.55
Public Works
' Water- Offsite $0.00 $0.00 Public Works
Street Lights
= f ~ $0_00 $0.00 Building
~
-
-
- _
f -- - - + -
--
-
--
-
--
-- __Landsca in -- ----~
P 9
----
~ $0.00 $0.00
- PZ ~
--
Pathways
1
Fencing
-- - - - --
-
-
-- $0.00
$0.00
-
-
-
- $0.00
$0.00
-
- PZ
--
PZ
-
Tiling
-- i - - -- - ~
~ ----- -
~ $0.00 ~ $0.00 PZ
Pressurized Irrigation i
Gravity Irrigation
-
~- - -
~ $0.00
$0.00
~ $0.00
$0.00 NMID
_NMID
- ~ Other: I
0
00
~
~ $
.
$0
00 $0.00
$0
00 PW
. .
~ - - $0.00 ~ $0.00
- -
$0.00
$0.00 -
TOTAL: $3,845.68 $0.00 $3,845.68
Authorize d reduction
Ready to be released 8/24/2009 SS
BALANCE TO REMAIN: #VALUE!
Memo
To: Jaycee Holman
From: Karie Glenn
CC: File, Karie, P & Z Staff
Date: 3/16/09
Re: Three Comers Subdivision
Clint Dolsby has signed the plat for the above project and I am forwarding it to you for your
signature. Based on our research of the project files, all conditions imposed by the Public
Works Department and City Council have been met.
I am also forwarding original letter of credit No. 24406 (Washington Trust Bank -dated
3/4/09) for $3845.68. This represents surety for items, and in amounts, listed on the attached
spreadsheet.
Please call Tim Mokwa w/ JUB @ 323-2288 when the plat is ready to be picked up. Please
call me if you have any questions.
Thank you.
''``Final Plat was approved by City Council on: April 22, 2008
Flom the desk of...
Karie A Gleaa
Business Operations Manager
Meridian Public Works Department
33 E Broadway Ave, Shute 200
Meridian, Idaho 83642
• Page 1
(208) 898-5500
Fax (208) 898-9551
k~l a eridiancitv.ore
SURETY SPREADSHEET
Project Name:
Date Compiled:
Letter of CrediUBond No.:
Issued By:
Expiration Date:
Check No.:
Item
Three Comers
3/10/2009
24406
Washington Trust Bank
9/4/2009
Unfinished
rtial
re
rty Responsible Date Signed Off/
For Si n-Off Person Comments
Sanitary Sewer -intemal $2,296.13 $0.00 $2,296.13 Public Works
Sanitary Sewer-offsite $0.00 $0.00
Water-intemal $1,549.55 $0.00 $1,549.55 Public Works
Water- Offsite $0.00 $0.00 Public Works
Street Lights $0.00 $0.00 Building
Landscaping $0.00 $0.00 PZ
Pathways $0.00 $0.00 PZ
Fencing $0.00 $0.00 PZ
Tiling $0.00 $0.00 PZ
Pressurized Irrigation $0.00 $0.00 NMID
Gravity Irrigation $0.00 $0.00 NMID
Other:
$0.00 $0.00 PW
$0.00 $0.00
$0.00 $0.00
$0.00 $0.00
TOTAL: $3,845.68 $0.00
Authorized reduction
BALANCE TO REMAIN: $3,845.68
$3,845.68