1999-06-16 LOC Reduction
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MEMORANDUM
605 Franklin Avenue NE, P.O. Box 51, St. Cloud, MN 56302-0051
320.253.1000
800.346.6138
320.253.1002 FAX
TO:
Linda Goeb
City Administrator
Albertville, Minnesota
FROM:
Peter J. Carlson, P.E.
City Engineer
DATE:
June 16, 1999
RE: Letter of Credit Reduction
Center Oaks 2nd Addition
Center Oaks 3rd Addition
Albertville, Minnesota
A-ALBEV 9804.00 and 9814.00 14.00
I reviewed the work completed to date and recommend the surety for Center Oaks 2nd and 3rd Addition be
reduced to no less than $115,000. The surety has been provided in a combination of a letter of credit and
bonds. Mike Couri, the City Attorney, should recommend how the reduction is applied to the letter of credit
and bonds.
djg
c: Mike Couri, City Attorney
Mike Czech, SEH.RCM
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