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CITY OF CENTERVILLE <br /> RES. #23-Op2 <br /> A RESOLUTION RELEASING THE LETTER OF CREDIT FOR THE KWIK <br /> TRIP RIGHT TURN LANE <br /> WHEREAS,the Kwik Trip, Inc. was required to post a security for the costs of <br /> constructing a Right Turn Lane on Main Street(CSAH 14)as part of their development, <br /> and <br /> WHEREAS, both a cash escrow and letter of credit were received, covering the same <br /> improvements, each in the same amount and each with enough funds to cover said costs, <br /> and <br /> WHEREAS,this unnecessary redundancy has recently come to the attention of both <br /> Kwik Trip and City Staff, <br /> THEREFORE, THE CITY OF CENTERVILLE HEREBY RESOLVES, to release <br /> the letter of credit security for the Right Turn Lane Improvements, while retaining the <br /> cash escrow. <br /> Passed by the City Council of the City of Centerville this 1 lth day of January, 2023. <br /> Mayor, D. Love <br /> t: \l <br /> City Clerk, Teresa Bender <br />