ORDF,R NO. 30923 RELEASE LETTER OF CREDIT #7080351 FOR ESTATES OF JOHNSON CREEK Came to be heard this the 28th day of July, 2008, with a motion made by Commissioner Oehler, seconded by Commissioner Baldwin. The Court unanimously approved by vote of 4-0-0 to: Release the Letter of Credit #7080351 for the roads in Estates of Johnson Creek, located in Precinct 4. ~ ~vq~3 /~ COMMISSIONERS' COURT AGENDA REQUEST PLEASE FURNISH ONE ORIGINAL AND TEN COPIES OF THIS REQUEST AND DOCUMENTS TO BE REVIEWED BY THE COURT. MADE BY: Leonard Odom. Jr. OFFICE: Road & Bridge MEETING DATE: July 28, 2008 TIME PREFERRED: SUBJECT: (PLEASE BE SPECIFIC): Consider, discuss, and take appropriate action to release the Letter of Credit # 7080351 for the roads in Estates of Johnson Creek, Pct. 4 EXECUTIVE SESSION REQUESTED: (PLEASE STATE REASON) NAME OF PERSON ADDRESSING THE COURT: Leonard Odom ESTIMATED LENGTH OF PRESENTATION: 5 minutes IF 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. regl ~~P~ E QF ~ x cOun~y ot`(~~ Kerr County Road & Bridge 4010 San Antonio Hwy Kerrville, Texas 78028 TO: COMMISSIONERS COURT FROM: LEONARD ODOM DATE: July 22, 2008 RE: Letter of Credit for the Road Construction in the Estates of Johnson Creek The road in the Estates of Johnson Creek has been completed, inspected, and approved for some time. It is a private road and will not be maintained by Kerr County. Therefore, the Letter of Credit No. 7080351 for $7,110.00 should be released. Th Johnson ck loc A branch of Sterling Bank LETTER OF CREDIT N0.7080351 Construction of Roads, Streets, and Alleyways in Estates At Johnson Creek March 26, 2007 This is an irrevocable letter of eretiit issued to tlDe C;ouniy of i~err, a exas, =~viv San Antonio Hwy, Kerrville, TX 78028, at the request of Richard Meaglia and Jack S. Wannebo= in accordance with Chapter 5, V.T.C.A., Texas Business and Commerce Code. This Bank promises to pay to the order of Kerr County, Texas, upon presentation of a sight draft, any amount not exceeding the cumulative total of Seven Thousand One Hundred Ten Dollars and NO/100#-----($7,110.00) on or after March 26, 2007. In accordance with Section 5,106 of the Texas Business and Commerce Code, this letter of credit maybe modified by the reduction of the total outstanding and unused amount of this credit, upon the execution and delivery to issuer of a sworn statement making demand by the Subdivision Administrator of Kerr County, or by anyone purporting to be his duly authorized agent, and presenting a document to that effect on Kerr County letterhead. This letter of credit shall expire on March 26, 2009. IN WITNESS WHEREOF, the Issuer has caused this letter to be signed and attested by its duly authorized officer who has attached proof of this authorization to sign, and sealed with the Issuer, this the 26th day of Ii%Iarch, 2f07. ISSUER: Bank of The Hills, a branch of Sterling Bank BY: ~~. ~~ Sam L. Braswell, Vice President 1075 Junction Highway • P. O. Box 2002 • Kerrville, Texas 78029-2002 • (830) 895-2265 • Fax (830) 895-2269