1991-08-21 LOC Expiration
CITY OF ALBERTVILLE
P. O. BOX 131
ALBERTVILLE, MINNESOTA 55301
PHONE: (612) 497-3384
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August 21, 1991
Albertville Industrial Development Corporation
c/o Scherer Bros. Lumber Company
9110 83rd Avenue North
Brooklyn Park, MN 55445
ATTN: Gary M. Scherer
Dear Mr. Scherer:
Please be advised that your Letter of Credit #73963 in the amount
of $28,500.00, specifically covering street, storm sewer, sanitary
sewer and water mains, and Letter of Credit #73964 in the amount
of $16,390.00, specifically covering boulevard improvements,
grading control, street signs and street cleaning, in the parksedge
Addition in the City of Albertville will expire on October 24,
1991.
Under the terms of the Developer's Agreement for the parksedge
project, these letters of credit need to be renewed 45 days before
the date of expiration.
Our city attorney has advised the City Council to request that both
I etters of credi t be renewed before September 10, 1991. PI ease
provide our office with the current Letters of Credit.
Should you have any questions, please feel free to contact me.
Sincerely,
Linda Houghton
City Clerk
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