Legislation Details

File #: 22-1256    Version: 1 Name:
Type: Budget/Funding Status: Consent Agenda
File created: 9/21/2022 In control: Utilities Department
On agenda: 9/27/2022 Final action:
Title: Approval of Irrevocable Standby Letter of Credit No. 75000426, from Truist Bank on behalf of Toll Southeast LP Company, Inc. in favor of Orange County in the amount of $89,250 for the required security to guarantee compliance with the terms of the Poitras East Parcel N-4 Phases 1-3 (20-U-139, 21-U-061, and 22-U-002) and authorization for the Utilities Director or Utilities Deputy Director to release the LOC 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 4. (Engineering Division)
Attachments: 1. 2022-09-27 Utilities Department Consent Item 3

title

Approval of Irrevocable Standby Letter of Credit No. 75000426, from Truist Bank on behalf of Toll Southeast LP Company, Inc. in favor of Orange County in the amount of $89,250 for the required security to guarantee compliance with the terms of the Poitras East Parcel N-4 Phases 1-3 (20-U-139, 21-U-061, and 22-U-002) and authorization for the Utilities Director or Utilities Deputy Director to release the LOC 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 4. (Engineering Division)