HomeMy Public PortalAboutBrown's - Letter of CreditCity of McCall
OFFICE OF THE CLERK
BOX 1065
MCCALL, IDAHO 83638
Cs (DLiPV
November 24, 1992
Mr. Judd DeBoer, President
Brown's Industries, Inc.
101 S. Capitol Blvd., Suite 1818
Boise, Idaho 83702
Dear Judd,
On November 12, at their regular meeting, by motion properly
made, seconded and unanimously approved, the City of McCall
accepted your dedication of the Water Main in the Payette Lakes
Commercial Center, conveyed by letter from you dated November 10,
1992. This letter serves as the Certificate of Acceptance
referenced in the Agreement between the City and Brown's
Industries dated June 8, 1992. Furthermore, the letter of
credit (No. 6527S) on this element of the project is enclosed.
In addition, we are now working on the agreement with the Sewer
District and have received a draft of that document from Mr.
Killen, their attorney. Subsequent to having that document in
final form, we will begin to prepare an agreement with Brown's
Industries and Malcolm Scott to fully execute our understandings
on the sewer lift station.
I trust this brings you up to date on the project from our end.
If you have questions, please call.
Sincerely,
Arthur J. Schmidt,
City Administrator
cc PW Dept.
City Attorney
Letter of Credit
West One Bank, Idaho, N. A.
101 S. capital
al BDepartment JES
101 S. Blvd., Boise, Idaho
Post Office Box 8247, Boise, Idaho 83733
Telephone: 208-383-7600 Fax: 208-383-7563 Bt�K
Telex: 262542 Answerhack: WEST ONE BK IDA
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Dear Sirs:
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City of McCall
P.O. Box 1065
McCall, Idaho 83638
Irrevocable Standby
Letter of Credit No.: 6527S
Dated: August 18, 1992
Expiration Date: November 15, 1992
At Our Counters
We hereby authorize you to draw on WEST ONE BANK, IDAHO, N.A., BOISE, IDAHO 83733
For account of Brown's Industries, Inc., 101 S. Capitol Blvd, Boise, Idaho 83712
Up to the aggregate amount of***SEVENTY-ONE THOUSAND FIVE HUNDRED AND NO/100 U.S.
DOLLARS*** available by your draft(s) at sight accompanied by the following
documents:
The original of this letter of credit for endorsement.
A statement purportedly signed by an authorized official of the City of
McCall as follows: "Brown's Industries, Inc. has failed to perform or is in
default of water system improvements to Payette Lakes Commercial Center and
the area(s) of non-performance have been communicated directly to Brown's
Industries, Inc. by the City of McCall."
Partial drawings are permitted.
A11 drafts drawn must be marked: DRAWN UNDER WEST ONE BANK, IDAHO, N.A. LETTER OF
CREDIT NO. 6527S
We hereby agree with drawers of drafts drawn under and in compliance with the
terms of this credit that the same shall be duly honored on due presentation to
the drawee.
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Authorized Signature
Authorized Signature
CR00513 (8-89)
Original Yellow - Applicant's Copy Pink -Lending Unit's Copy
Goldenrod -Acknowledgement Green -International Banking Department's File Copy