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, � � . CITY of ORONO <br /> � Post Office Boa 66•Crystal Bay,Minnesota 55323•Municipal Offices <br /> • � • • On the North Shore of Lake Minnetonka <br />� . <br />; April 5, 1989 f <br /> i . <br />� <br />� <br /> i <br />� Virgina� Jacques <br />� Merrill' Lynch R�ealty <br />� 315 Eas� Lake S!treet <br />� Wayzata, MN 55391 <br /> Re: Pl�t of "T�ees To Be" , Rainey Road <br /> f Dear Ms. Jacques: <br /> IPek your request, this letter is tc verify that the City of <br />' �Orono holds a "Standby Letter of Credit", Nc. SB 7259 in the <br /> amount of $82,5D0 to ensur� completion of the private road to be <br /> constru�ted within the above referenced plat. Expiration date of <br /> the Letter of C=edit is 3/15/90. The Letter of Credit was issued <br /> by Norwlest Banks. <br /> In the event that the road wcrk is not completed on a timely <br /> basis, the City would draw the necessary funds on the Letter of <br /> Credit �rior to its expiration, and contract for completicn of <br /> the road. <br /> P1lase ccntact me at 473-7357 if you have further questions. <br /> Sincerely, <br /> / +' � <br /> Michael P. Gaffron, <br /> Asst Planning & Zoning Administratcr <br /> MPG/tln ' <br /> BUILDING�ZONpYG—473-7357 • ADMIIVISTRATION dk FINANCE—473-7358 • PUBLIC WORKS—473-7359 <br /> ASSESSING <br />