R01-044 RESOLUTION NO~ R01-~
A RESOLUTION OF THE CITY COMMISSION OF
THE CITY OF BOYNTON BEACH, FLORIDA,
AUTHORIZING A REDUCTION IN THE LETTER OF
CREDIT ISSUED BY B~K OF AMERICA(NO.
3029736) FOR THE PROJECT KNOWN AS
WAL'MART FROM $305,330.30 TO $15,260;
AND PROVIDINGiANEFFECTIVE DATE.
WHEREAS' the developer of this parcel, previously
~ubmitted a Letter of Credit in the amount of $305,330.30 as
surety to guarantee completion of water and sewer systems
serVing this site; and
WHEREAS, a final inspection has been conducted on this
project and the system appears to be functioning properly
without any defects;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COMMISSION
OF THE CITY OF BOYNTON BEACH, FLORIDA, THAT:
Section 1. The City Commission of the City of
Boynton Beach, Florida, based upon the recommendation of
staff, hereby, approves a reduction of a Letter of Credit
(No. 3029736) from $305,330.30 to $15,260.00.
Section 2. That this Resolution Shall become
effective immediately upon passage.
PASSED AND ADOPTED this ~ day of March;, 2001.
Commissioner
Sank of America
DATE: OCTOBER 10, 2000
AMENDMENT TO IRREVOCABLE. STANDBY CREDIT NUMBER: 3029736
AMENDMENT NUMBER 1
PAGE: I
BENEFICIARY
CITY OF BOYNTON BEACH
UTILITIES DEPARTMENT
5469 W. BOYNTON BEACH BLVD.
BOYNTON BEACH, FL 33437
APPLICANT
WAL-MART STORES, INC.
702 SOUTHWEST 8TH STREET
BENTONVILLE, AR 72716
ATTN: PETER MAZZELLA
___THIS AMENDMENT IS TO BE CONSIDERED AN INTEG~L PART OF THE ABOVE CREDIT
AND MUST BE ATTACHED THERETO.
_ THE ABOVE MENTIONED CREDIT tS AMENDED AS FOLLOWS:
WHERE IT RE~S "IRREVOCABLE LETTER OF CREDIT NO. 3029736" NOW TO READ
"CLEAN IRREVOCABLE LETTER OF CREDIT NO. 3029736"
ALL OTHER TERMS AND CONDITIONS RE~IN ~CHANGED.
IF YOU REQUIRE ANY ASSIST~CE OR HAVE ANY QUESTIONS REGARDING THIS
AMENDMENT, PLEASE CALL 213'-345-6630.
.................. ?: CARRI~O, B~IVA~
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