ORDER NO. 30392
LETTER OF CREDIT FOR VISTAS ESCONDIDAS de CYPRESS SPRINGS
ESTATES
Came to be heard this the 23rd day of July, 2007, with a motion made by
Commissioner Oehler, seconded by Commissioner Baldwin. The Court
unanimously approved by vote of 4-0-0 that:
Approve the extension and accept the Letter of Credit for Vistas Escondidas de
Cypress Springs Estates, Pct. 4.
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COMMISSIONERS' COURT AGENDA REQUEST
PLEASE FURNISH ONE ORIGINAL AND TEN COPIES OF THIS RE4UEST AND DOCUMENTS
TO BE REVIEWED BY THE COURT.
MADE BY: Leonard Odom
MEETING DATE: July 23, 2007
OFFICE: Road & Bridge
TIME PREFERRED:
SUBJECT• (PLEASE BE SPECIFIC): Consider, discuss, and take appropriate action to accept a new
Letter of Credit for Vistas Escondidas de Cypress Springs Estates. ~c~` 5~
EXECUTIVE SESSION REQUESTED: (PLEASE STATE REASON)
NAME OF PERSON ADDRESSING THE COURT: Leonard Odom
ESTIMATED LENGTH OF PRESENTATION: 5 minutes
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~F PERSONNEL MATTER -NAME OF EMPLOYEE:
Time for submitting this request for Court to assure that the matter is posted in accordance with
Title 5, Chapter 551 and 552, government Code, is a follows:
Meeting scheduled for Mondays: 5:00 P.M. previous Tuesday
THIS REQUEST RECEIVED BY:
THIS REQUEST RECEIVED ON:
All Agenda Requests will be screened by the County Judge's Office to determine if adequate information has
been prepared for the Court's formal consideration and action at time of Court Meetings. Your cooperation
will be appreciated and contribute towards your request being addressed at the earliest opportunity. See
Agenda Request Rule Adopted by Commissioners' Court.
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A STATE BANKING ASSOCIA710N
At home with you.
July 13, 2007
County of Kerr
4010 San Antonio Hwy.
Kerrville, TX 78028
Re: Hebbronville Ranch Propeties, Ltd.
Amendment to Irrevocable Standby Letter of Credit No. 2006-03
Dear Sir or Madam:
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Please be advised that the undersigned, a duly authorized officer of HCSB, A State
Banking Association, hereby amends the Irrevocable Letter of Credit referenced above by
extending the expiration date from July 24, 2007 to July 24, 2008. All other terms of the
original Letter of Credit shall remain unchanged.
Thank you for your attention to this matter. Please contact the undersigned at (830) 896-
5000 if any further clarification is required.
Sinc ly,
Gregg Appel
Senior Vice President
PLAINVIEW~ HART TULIA PLAINVIEW WEST
PO. Box 970 P.O. Box 300 P.O. Box 28 P.O. Box 970
Plainview, Texas 79073 Hart, Texas 79043 Tulia, Texas 79088 Plainview, Texas 79073
806-293-3635 806-938-2111 806-295-4151 806-291-8000
PLEASE VISIT US AT www.hcsb.com
KERRVILLE
1 145 Junction Highway
Kerrville, Texas 78028
830-896-5000
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A STATE BANKING ASSO{IAT14N
~,~ h©rn>r v~/~~h you.
IRREVOCABLE STANDBY LETTER OF CREDIT
Letter of Credit Number: 2006-03
Issuance Date: October 27, 2006
Expiration Date: July 24, 2007
Issuer: HCSB, a state banking association
Address of Issuer: 1145 Junction Hwy.
Kerrville, TX 78028
Beneficiary: County of Kerr
Address of Beneficiary: 4010 San Antonio Hwy.
Kerrville, TX 78028
Bank Customer: Hebbronville Ranch Properties, Ltd.
Address of Bank Customer: 709'/Z Water Street
Kerrville, TX 78028
Credit Amount in U.S. Dollars: Two Hundred Fifty Thousand and No/100ths
($250,000.00}
Transferability: This credit is not transferable.
Legend To Be Included on Drafts(s):
All draft(s) drawn under this credit must be marked
"DRAWN UNDER HCSB IRREVOCABLE
_ STANDBY LETTER OF CREDIT NUMBER 2006-03"
and be addressed to HCSB, a state bank association,
1145 Junction Hwy., Kerrville, TX 78028.
Required Documents:
(1} Beneficiary's signed statement, submitted on Beneficiary's letterhead,
Certifying to the following:
"We hereby certify that the road and drainage improvements in the
Vistas Escondidas de Cypress Springs Estates do not meet the plans
s And specifications as set by the County of Kerr."
PLAI'~VIEW f	HART	TULIA	PLAIi~IV1k~iV WEST	KERRVILLE
P.O. Box 970	P.O. Box 300	P.O. Box 28	P.O. Box 970	1145 Junction Highway
Plainview, Texas 79073	Hart, Texas 79043	Tu{ia, Texas 79088	Plainview, Texas 79073	Kerrville, Texas 78028
806-293-3635	806-938-21 11	806-295-4151	806-291-8000	830-896-5000
PLEASE VISlT US AT www.hcsb.corn
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Kerr County Road & Bridge
4010 San. Antonio Hwy
Kerrville, Texas 78028
TO: COMMISSIONERS COURT
FROM: LEONARD ODOM
DATE: July 16, 2007
RE: Letter of Credit for Vistas Escondidas de Cypress Springs Estates, Pct. 4
The final plat of Vistas Escondidas de Cypress Springs Estates was approved July, 2005 with a
Letter of Credit to cover the road and drainage improvements. That letter expires July 24, 2007,
and the roads are not completed.
When this plat was approved there was aone-year time frame for completing the roads, the
current rules allow two years. The developer is asking for an extension and is offering a new
Letter of Credit in the same amount ($250,000.00).
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At this time we ask the Court to approve the extension and accept the Letter of Credit for Vistas
Escondidas de Cypress Springs Estates.
Th
cypress 3