Letter of Credit
Status Report 11/15/07 plan.OR2
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f;;t Securities
I Start Due
11/15/07 12/30/07
S
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p
Category
. Description
LC #MN063-L-9021 Expires 12/30/07
Minnesota Valley Electric Substation
(Gedney Pickle Site)
Site Plan Agreement 05-30
Planning Case 2005-30
$12,481 (Landscaping)
Notify Sharmeen AI-Jaff on 11/15/07.
C 2006 lotus Development Corp.
1015106 at 3:30 PM S",Slatus P=Priority
Page 1
~
National Rural Utilities
Cooperative Finance Corporation
RECEiVED
o OCT 0 3 2006
2201 Cooperative Way
Herndon, Virginia 20171-3025
703-709-6700 I WWWoe1cf6f'{9f CHANHASSEN
A Touchstone Energy- Cooperative ~
IRREVOCABLE LETTER OF CREDIT
No. MN063-L-9021
Date: September 29,2006
Applicant:
The Minnesota Valley Electric Cooperative
125 Minnesota Valley Electric Drive
Jordan, Minnesota 55352
Issuer:
National Rural Utilities Cooperative Finance Corporation
Woodland Park, 2201 Cooperative Way
Herndon, Virginia 20171-3025 Attention: Marianne Dusold
To:
City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Minnesota Valley Electric Cooperative and in
your favor, our Irrevocable Letter of Credit in the amount of$12,481.00 available to you
by your draft drawn on sight on the undersigned bank.
The draft must:
a) Bear the clause, "Drawn under Letter of Credit No.MN063-L-9021, dated
November 29,2006, of National Rural Utilities Cooperative Finance
Corporation"
b) Be signed by the Mayor of City Manager of the City ofChanhassen.
c) Be presented for payment at 2201 Cooperative Way, Herndon, Virginia
20171, on or before 4:00p.m. on December 30,2007.
This Letter of Credit guarantee's the landscaping occurs according to the
approved project plans and specifications for the Chanhassen Substation and shall have an
expiration date of December 30,2007.
This Letter of Credit sets forth in full our understanding which shall not in any
way be modified, amended, amplified, or limited by reference to any document,
instrument, or agreement, whether or not referred to herein.
This Letter of Credit is not assignable. This is not a Notation Letter of Credit.
More than one draw may be made under this Letter of Credit.
CFC L TRCRE
MN063-L-9021 (JABLONJ)
102956-1
Irrevocable Letter of Credit No. MN063-L-9021
September 29, 2006
Page 2 of2
This Letter of Credit shall be governed by the most recent revision of the Uniform
Customs and Practice for Documentary Credits, International Chamber of Commerce
Publication No. 500.
We hereby agree that a draft drawn under and in compliance with this Letter of
Credit shall be duly honored upon presentation.
By: J11(fJ1{uUW~
Marianne Dusold
Assistant Secretary-Treasurer
CFC L TRCRE
MN063-L-9021 (JABLONJ)
102956-1
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
W/ffl.ci.chanhassen. mn.us
October 3, 2006
Ms. Becky Neisen
AP Accountant
Minnesota Valley Electric Cooperative
125 Minnesota Valley Electric Drive
Jordan, MN 55352
Dear Ms. Neisen:
The City of Chanhassen is in receipt of Letter of Credit # MN063-L-9021 in the
amount of $12,481.00. As such, I am returning Check # 00140535 for the same
amount as the Letter of Credit.
If you have any questions, please feel free to contact meat 952-227-1134 or
saliaff@ci.chanhassen.mn.us .
Sincerely,
~~j~
Sharmeen AI- aff.'. . ' · .". i
Senior Planner
enclosure
The City 01 Chanhassen · A growing community with clean lakes, Quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
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111000 ~ L.O S:l 5
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:....L.~
5 L. 0 SOL. 7 7 b III
CITY OF CHANHASSEN
CHK NBR 00140535
20040165
03/03/06
12481. 00
TOTAL
12481. 00
STUB 01 OF 01
MlfEC
Minnesota Valley Electric Cooperative
Your Touchstone E~Cooperativc ~t-';
Integrity I Accountability I Innovation I Commitment to Community
IRREVOCABLE LEITER OF CREDIT
No.
Date:
TO: City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
It is Minnesota Valley Electric Cooperative's intention to comply with Item 5 (security) ofthe SITE
PLAN PERMIT by submitting a check for the amount to be used as escrow until a Letter of Credit
is achieved. Once the letter is delivered to the City we want to eliminate the escrow by replacing it
with the Letter of Credit.
Sincerely
/~~
j~
Dennis Wolf
VP Special Projects
125 Minnesota Valley Electric Drive . Jordan, MN 55352
952.492.2313 . 800.282.6832
Fax 952.492.8281
I.
CITY OF
CHANHASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
www.ci.chanhassen.mn.us
July 25,2007
Ms. Becky Neisen
AP Accountant
Minnesota Valley Electric Cooperative
125 Minnesota Valley Electric Drive
Jordan,MN 55352
Re:
Letter of Credit Reduction - Minnesota Valley Electric Substation
Planning Case No. 2005-30
Dear Ms. Neisen:
Please accept this letter as authorization to reduce Letter of Credit No. MN063-L-
9021 by $11,233 to leave a remaining balance of $1,248.. Also, please extend the
expiration date from December 30,2007 to July 31, 2008. Please send written
(
acknowledgement of this reduction and extension at your earliest convenience.
If you have any questions orconceins, please contact me by email at
saliaff@ci.chanhassen.mn.us orat952'"227 -1134.
Sincerely,
CITY OF CHANHASSEN
........ .~
~ w..~\-t'-..
Sharmeen AI-Jaff
Senior Planner
SA:ktm
g:\plan\2005 planning cases\05-30 mvec sub station\lc reduction letter 7-25-07.doc
The City 01 Chanhassen · A growing community with clean lakes, Quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
Status Report 11/15/07 plan.OR2
July 2000
8 M T W T F 8
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..n......................................
flf Securities
I Start Due
11/1 5/07 12/30/07
S
It!
p
Category
Description
LC #MN063-L-9021 Expires 12/30/07
Minnesota Valley Electric Substation
(Gedney Pickle Site)
Site Plan Agreement 05-30
Planning Case 2005-30
$12,481 (Landscaping)
Notify Sharmeen AI-Jaff on 11/15/07.
7/25/07 - Sent letter to MVEC requesting reduction in LC by $11,233 to leave a remaining balance of
$1,248 (10%) and extending expiration date to 7/31/08. Check status 8/15/07. Kim
9/11/07 - Per Jill, there are two trees in the west bufferyard that need to be replaced before LC can be
released.
11/15/07 - Per Jill, LC can be release. Activity closed. Kim
C> 2007 Lotus Development Corp. 11/16/07 a19:21 AM S=Slatus P:=Priority Page 1
CITY OF
CHANIlASSEN
7700 Market Boulevard
PO Box 147
Chanhassen, MN 55317
Administration
Phone: 952.227.1100
Fax: 952.227.1110
Building Inspections
Phone: 952.227.1180
Fax: 952.227.1190
Engineering
Phone: 952.227.1160
Fax: 952.227.1170
Finance
Phone: 952.227.1140
Fax: 952.227.1110
Park & Recreation
Phone: 952.227.1120
Fax: 952.227.1110
Recreation Center
2310 Coulter Boulevard
Phone: 952.227.1400
Fax: 952.227.1404
Planning &
Natural Resources
Phone: 952.227.1130
Fax: 952.227.1110
Public Works
1591 Park Road
Phone: 952.227.1300
Fax: 952.227.1310
Senior Center
Phone: 952.227.1125
Fax: 952.227.1110
Web Site
WNW.ci.chanhassen.mn.us
November 16, 2007
Ms. Becky Neisen
AP Accountant
Minnesota Valley Electric Cooperative
125 Minnesota Valley Electric Drive
Jordan, MN 55352
Re:
Letter of Credit Release - Minnesota Valley Electric Substation
Planning Case No. 2005-30
Dear Ms. Neisen:
Enclosed please find Letter of Credit No. MN063-L-9021 which guaranteed the
landscaping on the above-referenced site. The landscaping has been completed and
accepted by the City; therefore, we are returning the letter of credit.
Sincerely,
~~~
,- .-. ..... , .,.
Sharmeen AI-Jaff ..
Senior Planner
SA:ktm
Enclosure
g:\plan\2005 planning cases\05-30 mvec substation\lc retumletter 11-16-07.doc
The City of Chanhassen · A growing community with clean lakes, quality schools, a charming downtown, thriving businesses, winding trails, and beautiful parks. A great place to live, work, and play.
.
National Rural Utilities
Cooperative Finance Corporation
2201 Cooperative Way
Herndon, Virginia 20171-3025
703-709-6700 I www'eicrt<(9f CHANHASSEN
A Toochston< Ene.gy' Coopernt;ve ~
RECEIVED
OCT 0 3 2006
IRREVOCABLE LETTER OF CREDIT
No. MN063-L-9021
Date: September 29,2006
Applicant:
The Minnesota Valley Electric Cooperative
125 Minnesota Valley Electric Drive
Jordan, Minnesota 55352
Issuer:
National Rural Utilities Cooperative Finance Corporation
Woodland Park, 2201 Cooperative Way
Herndon, Virginia 20171-3025 Attention: Marianne Dusold
To:
City of Chanhassen
7700 Market Boulevard, Box 147
Chanhassen, Minnesota 55317
Dear Sir or Madam:
We hereby issue, for the account of Minnesota Valley Electric Cooperative and in
your favor, our Irrevocable Letter of Credit in the amount of$12,481.00 available to you
by your draft drawn on sight on the undersigned bank.
The draft must:
a) Bear the clause, "Drawn under Letter of Credit No.MN063-L-9021, dated
November 29, 2006, of National Rural Utilities Cooperative Finance
Corporation"
b) Be signed by the Mayor of City Manager of the City of Chanhassen.
c) Be presented for payment at 2201 Cooperative Way, Herndon, Virginia
20171, on or before 4:00p.m. on December 30, 2007.
This Letter of Credit guarantee's the landscaping occurs according to the
approved project plans and specifications for the Chanhassen Substation and shall have an
expiration date of December 30,2007.
This Letter of Credit sets forth in full our understanding which shall not in any
way be modified, amended, amplified, or limited by reference to any document,
instrument, or agreement, whether or not referred to herein.
This Letter of Credit is not assignable. This is not a Notation Letter of Credit.
More than one draw may be made under this Letter of Credit.
CFC L TRCRE
MN063-L-9021 (JABLONJ)
102956-1
Irrevocable Letter of Credit No. MN063-L-9021
September 29, 2006
Page 2 of2
This Letter of Credit shall be governed by the most recent revision of the Uniform
Customs and Practice for Documentary Credits, International Chamber of Commerce
Publication No. 500.
We hereby agree that a draft drawn under and in compliance with this Letter of
Credit shall be duly honored upon presentation.
CFC L TRCRE
MN063-L-9021 (JABLONJ)
102956-1
By: mtJYr(ljuuJ~
Marianne Dusold
Assistant Secretary-Treasurer