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City of Orono <br /> P.O. Box 66 <br /> Crystal Bay, MN 55323-0066 <br /> December 20, 1996 pE� 2 ��, �996 <br /> Attention: Mike Gaffron � <br /> RE: 1473 Bay Ridge Road - <br /> Dear Mike, <br /> As you know, we have established and pledged a �15,000. Savings <br /> Certificate to the City of Orono in conjunction with a Septic System Upgrade <br /> Agreement dated 2/12/96. The Certificate is pledged through July 31, 1997. <br /> In a May 29, 1996 memorandum from the City, Orono residents were <br /> infonned septic upgrade deadlines were extended for areas scheduled for <br /> sewer. <br /> In iny phone conversations with you, you indicated that the current "security" <br /> requirements (ie: letters of credit, certificates of deposit, etc.) might be <br /> changed. <br /> What is the latest program and might I be able to get rid of the low interest <br /> bearing Savings Certificate? As you know, in our case we are very anxious <br /> to have sewer and be able to build an attached garage. <br /> Thank vou for your assistance. <br /> Sincer ly, <br /> ��n'G��'� %�%� .r��--� <br /> 1 <br /> Thomas R. McCune <br /> 1473 Bay Ridge Road <br /> Wayzata, MN 55391 <br />