Farabee_1995_ReductionLetterOfCredit

Farabee, Charles

We received your letter of September 1, 1995, requesting a reduction of the $200,000 Irrevocable Letter of Credit to an amount equal to the estimated cost of revegetation during the monitoring period. The request is granted. The amount of a new Irrevocable Letter of Credit meeting the requirements of 36 CFR 9.48 would be $18,000. This amount was identified in the Plan of Operations. Upon receipt of a new Irrevocable Letter of Credit the National Park Service would release and return the $200,000 Letter of Credit to Bright & Company. The Letter of Credit would remain in effect until the 70% preproject vegetative cover is achieved. With normal rainfall during the next 12 months, this could be easily achieved. If we can be of further assistance, please telephone Paul Eubank at (512) 949-8173.