1992-09-15 LOC Expiration
September 15, 1992
Albertville Industrial Development Corporation
c/o Scherer Brothers Lumber Company
9110 83rd Avenue North
Brooklyn Park, MN 55445
ATTN: Gary M. Scherer
Dear Mr. Scherer:
5964 Main Avenue N.E.
P.O. Box 131
Albertville, MN 55301-0131
(612)497-3384
Fax: (612) 497-3210
Please be advised that you 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 #7;3964 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,
1992.
Under the terms of the Developer's Agreement for the Parksedge
project, these letters of credit need to be renewed forty five 945)
days before the date of expiration.
Our city attorney has advised the City Council to request that both
letters of credit be renewed as soon as possible. Please provide
our office with the current Letters of Credit.
Should you have any questions, please feel free to contact me.
Linda Houghton
City Clerk