HomeMy WebLinkAboutRESOLUTION NO. 2006-106 RESOLUTION NO. D
RESOLUTION REDUCING LETTER OF CREDIT
SYNERGY DEVELOPMENT GROUP,LCC—PRAIRIE CREEK ESTATES
FIRST, SECOND & THIRD ADDITIONS
WHEREAS, Synergy Development Group L.L.C. has a Letter of Credit on file
with the City of Fairfax in the ,amount of $240,000.00 to guarantee the installation of
improvements in Prairie Creels Estates First, Second and Third Additions; and
WHEREAS, Said improvements have now been completed except for one storm
sewer extension; and
WHEREAS, The City Engineer has recommended a value of $10,000.00 be.
retained for said storm sewer extension.
NOW, THEREFORE, BE IT RESOLVED, By the City Council of the City of
Fairfax, Iowa, that the Letter of Credit submitted by Synergy Development Group, L.L.C.
be reduced to a value of $10 000.00 and that the balance of'$230,000.00 be and the same
is hereby released.
Passed and approved this
pp ��� day of ��C `d, � v�� , 2006.
AYES: , guf
NAYS:
ABSENT:*"h—.
Bill Voss, Mayor
ATTEST:
Nancy is inger, sting City Cleric
The foregoing Resolution No. Qi- having been approved this date by
the City Council, I hereby approve the same by affixing nay signature as Acting City
Cleric on this day of k 2006.
Nancy icl ger, A ting City Cleric