4. D. 4.
Commissioners Court - Regular
Release of Letter of Credit for Granado Estates Subdivision
Irma Weaver, Public Works
Discuss and consider release of Cayentano Development, LLC pursuant to Subdivision Construction Agreement regarding Granado Estates Subdivision, including release of any Letter of Credit and related matters.
A Subdivision Construction Agreement, dated March 14, 2018, was entered into with Gayetano Development, LLC. Part of the agreement was an Irrevocable Letter of Credit in the amount needed to install septic systems at all lots.
The Irrevocable Letter of Credit is no longer needed as all septic systems have been installed.
Information about available funds
Funds NOT Available:
Account Code(s) for Available Funds
Paid Invoice for Septic Systems
Subdivision Construction Agreement
Release of Subdivision Improvements Security Interest
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