HomeMy WebLinkAboutA028 - Letter dated September 6, 2000 regarding release of letter of credit - $441,000 Memo
Public Works Department
Caring Praple :- :
Quality Programs tErceptional Service p I-TO: Diane Voss, City Cleric
4iFROM: Jerald N. Byg, Municipal Engineer v `
DATE: September 6, 2000
SUBJECT: Dauntless 4" Subdivision Improvements letters of credit.
The $441,000 letter of credit on file for this subdivision is for the developer's share of
improvement costs for Mortensen Road. The developer has deposited $441,000 in a
joint escrow account and this replaces the letter of credit. Please release the
$441,000 letter of credit to the developer.
The $130,000 letter of credit also submitted for this subdivision is security for the
developer completing paving and storm sewer improvements on Dickinson Avenue
from Mortensen Road to 150' south of Steinbeck Street.
JB/dwj Le.,S-5 vit-d -0 5,7,000 1-301 D0O L-0c rcoj1C).
0n I Z - l 9 ^DO J4 L4 i 1600 0 ash �Mds7e�McW �" f}C�1
Rd ea.sc-4 10 -Oct -D I — 501if 00 Lv G QCV�. 3/,�4100
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INDIVIDUAL--COMMERCIAL ACCOUNT OF #02-476-7 NO. OF SIGNATURES
Terra Firma, L. REQUIRED--1--- .
Dauntless Subdivision, 4th Add.
FIRST NATIONAL BANK, Ames, Iowa 50010 t
In receiving items for deposit or collection,tM9 Bank acts only as depositors dollectlnq agent and assumes no responslbillly,beyond Inc e,erolao el due It
�) care.An Items are credited subject to final payment In rash or solvent credits.This Bank will not be liable for default or negligence of ils.doly selected per 2
reapondeni9 nor for losses in Iransil,and each cortasPondanl so selected shall not be liable except for its own nepllgenco.Thla Bank or it,cortespondents
U may send items,directly or indirectly to any bank including the payer,and acceot its draft or credit as conditional payment In feu of cash;it may charge t.
back any Item at any time before final payment,whether returned or not.also any item drawn on this ad
Bank not good al close of business on day deposit .
1 hereby agree to the by-laws,rules and regulations of Inc above mentioned bank,governing I....11 made in Its checking department now and/or-here.
adopted by said bank. y
/V//r�!�/• .. I certify antler penalty of perjury,that the Social Security Number or Taxpayer Identification Number shown below Is ranecl and
that I am not subject to backup withholding orders Issued by the IRS.
f 1 f(/vl/� thoii ed Signature.
Authorized Sig tare
Sherry Meier, Ames City Treasurer
Authorized Signature
City Hall, Ames, Tnya 90010
` Address
e DabOpened Taxpayer Identification Number
(�8-15-0042-1472676
1St FIRST NATIONAL BANK
AMES, IOWA 50010
1
By f4, C� 6
ACCOUNT NUMBER
All items are credited subject to payment under condi-
tions staled on back of DUPLICATE TICKET hereof.
DEPOSITS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL
DOLLARS CENTS
CURRENCY
SILVER
CHECKS AS FOLLOWS J
C 1
AlllFSK
1
TRANSITS
/ ,
LA
NEGOTIABL -
L-ICATE DEPOSIT TICKET
Received by