HomeMy WebLinkAbout930940.tiff C(f: DEPARTMENT OF PLANNING SERVICES
3 PHONE(303)356-4000,EXT.4400
I -"' 915 10th STREET
GREELEY,COLORADO 80831
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September 29, 1992 ham' a^ .S / ("/ ) "Xul"-t:'
B. L. Ventures , Inc.
P. 0. Box 2233
Greeley, CO 80632
Subject: Performance Guarantee Agreement - Amended USR-899
Dear Mr. Lamb:
As required by the amended performance guarantee agreement approved by the Board
of County Commissioners on September 19, 1990, the staff has reviewed the
collateral you submitted and has determined that a 6% increase is warranted.
Section 9.0 of the performance guarantee agreement states that the interest in
the account shall be accumulated and may be credited against increases in the
price index so long as the total accumulated interest in the fund meets or
exceeds the increase in the price index. The agreement also provides that the
applicant shall, on October 1, of each succeeding year, tender additional
performance guarantees to account for any increase in the price index.
Our calculations show that an additional $50.72 is due based upon the 6%
increase.
Please arrange with your bank to either increase the certificate of deposit by
that amount or arrange another financial guarantee with the Clerk to the Board
of County Commissioners . If you are able to increase your certificate by the
required amount, we will need documentation from the bank regarding the new
balance.
Please let me know if you have any questions .
Sincerely,
Lanell J.LSwanson
Current Planner
pc: Clerk to the Board of County Commissioners
Lee Morrison, Assistant County Attorney ` )l
Drew Scheltinga, County Engineer
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BILL'S WASH OUT LTD. 1234
4101 W. SERVICE RD. PH. 303-339-5129
_ EVANS, CO 80620
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