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PII.BLIC I\GENCY
ITEM DATE SUBMITTED BY
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ID,,A FARMERS 8 MERCHANTS/r-illl
1110 Br-ttr.le
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IRREVOCABLE STANDBY
LETTER OF CREDIT
Letter of Credit No.5500000612
Date: April 29,2005
Expiration date: May '1, 2006
Amount: $87,088.10
City of Caldwell
621 Cleveland BIvd.
Caldwell, lD 83605
Attn: Engineering, Ben Weymouth
Dear Mr. Weymouth,
We hereby establlsh our lrrevocable Standby Letter of Credit No. 5500000612 in you
favor for the account of Bill Gilbert, up to the aggregate amount of EIGHTY SEVEN
THOUSAND EIGHry EIGHT DOLLARS AND TEN CENTS ($87,088.10) U.S. Currency,
available by your draft(s) drawn at sile on us and presented to Farmers & Merchants
State Bank, Caldwell, on or before May 1,2006, covering Skyway Business Park Project
no. 19.95-184 and accompanied by the following:
1 . A signed statement from the City of Caldwell reading exactly as follows
"1, the undersigned duly authorized representative of the City of Caldwell, hereby
certify that the draft drawn under this Letter of Credit represents the amount of
money required to complete the subdivision improvemenls including
Landscaping, Sidewalks, and lrrigation System."
2. Original of this Letter of Credit
All drafts presented under the credit must contain the clause "Drawn under Farmers &
Merchants State Bank of Letter of Credit No- 5500000612.
Any and all banking charges, other than those of the issuing bank, are for the account of
the beneflciary.
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lrrevocable Standby Letter of Credit
City of Caldwell
April 29,2005
Page 2
We hereby engage with the drawers and bona fide holders of drafts drawn under and in
compliance with the terms of this Letter of Credit that the drafts will be duly honored upon
presentation and delivery of documents, as specified, to Farmers & Merchants State
Bank, 1'110 Blaine Street, Caldwell, ldaho, on or before May 1, 2006.
All drawings under this credit will be governed by the Uniform Cusioms and Practice of
Oocumentary Credit (1993 Revision), lnternational Chamber of Commerce Publication
Number 500.
Since
Randy Hi
Asst.V.P.Commercial Loan Officer
)a
Memorandum
Steven Hasson
Ben Weymouth, Assistant City Engineer
SU&7F{12, Skyyvay Business Park
March 24,2003
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Date:
The Engineering Department has reviewed the proposed flnal plat for Skyway Business Park. The
Engineering department provides the following comments on the submitted final plat:
1. The water system is approved and operational. Testing on the water system has been
completed.
2. Compaction test results for the roadways have been submitted to the City for review and
approval.
3. Street signs have been installed.
4. Sewer system is approved and operational. The line has been constructed, tested, and
televised.
5. There are several items that need to be completed in regards to the infrastruc{ure of the
projec{. A construction security shall be submitted that is acceptable to the Ci$ of Caldwell
Engineering Department for these items (see attached construction cost lists) prior to approval
of the final plat.
6. The final plat shall be conected in accordance with the marked-up copy mailed to J.U.B
Engineers, lnc. on March 27,2OO3.
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