Instructions for Letter of Credit:
1. Letters of Credit must not vary in substance. Please provide a copy of this sample to your bank.
2. The Letter of Credit must be on Bank Letterhead.
3. The Letter of Credit must be addressed to:
City of Grand Junction
c/o Director of Community Development Department
250 N. 5th Street
Grand Junction, CO 81501
4. The Letter of Credit must have a title, date and expiration. Expiration is subject to the automatic extension provisions stated therein.
Irrevocable Letter of Credit No. ____________ Dated: _____________
Expiration: ________________ subject to the automatic extensions stated below
5. The Letter of Credit must have the dollar amount stated in numbers and in words.
6. The Bank shall fill in all blanks except those in the drawing statement (paragraph 6.) The drawing statement is in bold print. Do not fill in the drawing statement.
7. The information to be included and format to be used either for wire transfer or electronic funds transfer will be provided by the City at the time a drawing is made and the City requests funds be deposited that way.
8. If available please include the American Bank Association (ABA) number on the Letter of Credit.
9. Type name under authorized signature.
10. Use the exact text provided on the form (next page).