HomeMy WebLinkAboutRESOLUTION NO. 2007-43 SOLUTION NO.
RESOLUTION REDUCING THE LETTER OF CREDIT FOR PRAIRIE CREEK.
ESTATES FIRST, SECOND,AND THIRD ADDITIONS TO $25,000.00
WHEREAS, The City of Fairfax has accepted the improvements in Prairie Creek
Estates First, Second, and Third Additions to Fairfax, Iowa, and has approved the
maintenance bonds submitted by Horsfield Construction, Inc.; and
WHEREAS, The City engineers, Hall &Hall Engineers, Inc. has recommended
the City retain $25,000.00 in the Letter of Credit submitted by Synergy Development
Group, LLC from Guaranty Bank and Trust Company to secure the final grading and
stabilization of the drainage way along the east side of the First and Third Additions and
the detention basin in the southwest corner of the First Addition.
BE IT RESOLVED,By the City Council of the City of Fairfax, Iowa, that the
letter of Credit amount be reduced from $240,000.00 to $25,000.00 to secure said grading
and stabilization in the First and Third Additions.
NOW, THEREFORE,BE IT FURTHER RESOLVED,By the City Council of
the City of Fairfax, Iowa, that the Mayor and City Clerk are hereby authorized and
directed to execute said Resolution.
Passed and approved this day of , 2007.
AYES: . , C
NAYS:
ABSENT: --- --- -
Bill Voss, Mayor
ATTEST:
Vickie Kindl, City Clerk
The foregoing Resolution No. having been approved t 0ate by the Fairf x City Council,7 hereby
approve the same by affixing my signature as City Clerk on this /0 dayof, ,2007.
Vickie Kindl,City Clerk