2000-10-11 LOC Reduction
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-MEMORANDUM
1200 25th Avenue South, P.O. Box 1717, St. Cloud, MN 56302-1717
320.229.4300 800.572.0617
320.229.4301 FAX
FROM:
Ms. Linda Goeb
City Administrator
City of Albertville
Peter J. Carlson, P.E. ~
City Engineer
TO:
DATE:
October 11, 2000
RE:
Letter of Credit Reduction
Kollville Estates
Albertville, Minnesota
SERNo. A-ALBEV0003.00 14
I have reviewed the work completed to date and recommend the letter of credit for this project be
reduced to $55,000. This amount represents 10% of the estimated project cost. It is the City's
policy to maintain the letter of credit at 10% of construction cost for the first year following
completion of construction.
Please call me if you have any questions.
cb
c: Mike Couri, City Attorney
Scott Dahlke, Quality Site Design, LLC
w:\albev\OOO3\corrlocllaOO-m.doc
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