Legislation Details

File #: 22-202    Version: 1 Name:
Type: Recommendation Status: Passed
File created: 2/2/2022 In control: Utilities Department
On agenda: 2/8/2022 Final action: 2/8/2022
Title: Approval of Irrevocable Standby Letter of Credit No. 18135500-00-000, issued by PNC Bank, National Association on behalf of Lennar Homes, LLC in favor of Orange County in the amount of $89,250 for the required security to guarantee compliance with the terms of the International Drive Resort, Phase 1 (20-E-066) Wastewater Capital Charge Letter of Credit Agreement and authorization for the Utilities Director or Utilities Deputy Director to release the Letter of Credit to the issuing institution upon completion of the term of the Agreement or upon the Board’s acceptance of a replacement letter of credit. District 6. (Engineering Division)
Attachments: 1. Utilities Department Consent Item 1

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Approval of Irrevocable Standby Letter of Credit No. 18135500-00-000, issued by PNC Bank, National Association on behalf of Lennar Homes, LLC in favor of Orange County in the amount of $89,250 for the required security to guarantee compliance with the terms of the International Drive Resort, Phase 1 (20-E-066) Wastewater Capital Charge Letter of Credit Agreement and authorization for the Utilities Director or Utilities Deputy Director to release the Letter of Credit to the issuing institution upon completion of the term of the Agreement or upon the Board’s acceptance of a replacement letter of credit. District 6. (Engineering Division)