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AI- 9416   4. D. 4.    
Commissioners Court - Regular
Meeting Date: 04/25/2018  
Release of Letter of Credit for Granado Estates Subdivision
Submitted By: Irma Weaver, Public Works
Department: Public Works  

Information
RECOMMENDATION
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.
BACKGROUND
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.
DISCUSSION
The Irrevocable Letter of Credit is no longer needed as all septic systems have been installed.

Budget Information
Information about available funds
Budgeted: Funds Available: Adjustment: Amount Available:
Unbudgeted: Funds NOT Available: Amendment:
Account Code(s) for Available Funds
1:
Fund Transfers
Fiscal Impact:
None

Attachments
Paid Invoice for Septic Systems
Subdivision Construction Agreement
Release of Subdivision Improvements Security Interest

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