HomeMy WebLinkAboutA014 - Irrevocable Letter of Credit No. 9707 dated September 12, 1997 - $96,654.80 F
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Irrevocable Letter of Credit No.: 9707
Dated: September 12, 1997
To: City of Ames, Iowa
ATTN: City Clerk
515 Clark Avenue
Ames, IA 50010
We hereby authorize the City of Ames, Iowa, to draw on First National Bank,
Ames, Iowa, for the account of Everett W. Cochrane and Marjorie L. Cochrane, up to the
aggregate amount of U.S. $96,654.80 available by your draft(s) at sight accompanied by
the sworn statement of the City of Ames Director of Public Works stating that the public
improvements called for by the Public Improvements Contract for the First Addition,
Dauntless Subdivision,have not been completed before November 1, 1999.
Each draft must state that is it "Drawn under First National Bank Letter of Credit
No. 9707, dated September 12, 1997." This letter of credit and all documents specified
must accompany the draft(s). We hereby agree that all drafts drawn under and in
compliance with the terms of this letter of credit will be duly honored on delivery of
documents as specified if presented at this office in Ames, Iowa, no later than December
31, 1999.
First National Bank,Ames, Iowa
By: � ��
Terrill L. Wycoff, V. ice President
By:
Edward C. Jacobson, Sr. Vice Press 0
ent
CITY OF AMES
-i6"- WIEGAND PAUL Paul Wiegand, Public Works
- R9f`r- Yo= VOSS DIANE Diane Voss , City Clerk
f,2oM= _loFFnt Jo�n�e�
DATE: OCTOBER 14, 1999
SUBJECT: Revised Security Amounts
Paul :
Received the certificates of completion as fo ows
1 . Utilities and street i Dauntless , lst p
2. Utilities and street i
3. Paving in Hillside, 3rd
I 've put these on the Council agenda for 10/26. Please advise what. the
securities (bonds , letters of credit, etc. ) have been lessened to. .
Thank you.
Diane
COPY LIST: VOSS DIANE Diane Voss , City Clerk ,
C.c V I