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MEMO TO: Mayor and City Council FROM: Public Works/Community Development Director Thatche��rI/ <br />�. Engineering Technician/Ass't Bldg. Inspector Hoffman_ <br />DATE: February 9, 1987 <br />SUBJECT: SECURITY RELEASE FOR ELECTRIC EQUIPMENT SERVICE <br />CORPORATION (EESC) <br />Attached please find the following: <br />1. Letter from EESC dated December 2, 1986 <br />2. Letter of Credit from First- State Bank of New <br />Brighton in the amount of $1,000 dated December <br />4, 1986 <br />3. Proposed Resolution No. 2164 <br />Staff has comleted an inspection of Electric Equipment Service <br />Corporation and found that all requirements of Development <br />Agreement No. 85-71 have been met. The $1,000 7-year security <br />for ponding and drainage maintenance has been submitted. Water <br />and sewer mains installed on the Mustang Drive extension right- <br />of-way to the south are completed and operational. <br />Staff recommends release of the State Surety Company Bond No. <br />RCN278736 and accept responsibility for maintenance of the <br />utility mains within the right-of-way. <br />BH/bac <br />