MCC Iowa LLC
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MEMORANDUM
July 27, 2005
TO:
The Honorable Mayor and City Council Members
FROM:
Michael C. Van Milligen, City Manager
SUBJECT: MCC Iowa LLC
Corporation Counsel Barry Lindahl is recommending that the MCC Iowa LLC Letter of
Credit be reduced from $100,000 to $25,000, pursuant to the Cable Television
Franchise Agreement.
I concur with the recommendation and respectfully request Mayor and City Council
approval.
N ~AlL
Michael C. Van Milligen
MCVM/jh
Attachment
cc: Barry Lindahl, Corporation Counsel
Cindy Steinhauser, Assistant City Manager
Randy Gehl, Public Information Officer
BAR R Y A. L I N 0 A H L, E
CORPORATION COUNS
CITY OF DUBUQUE
,.
MEMO
To:
Michael C. Van Milligen
City Manager
DATE:
July 21, 2005
RE:
MCC Iowa LLC
Mike:
Pursuant to the recently adopted Franchise Agreement between the City of Dubuque
and MCC Iowa LLC, MCC Iowa LLC's Letter of Credit is reduced from $100,000 to
$25,000.
Enclosed is a Consent to the Amendment to the Letter of Credit reducing it to $25,000.
I recommend that the Consent be submitted to the City Council for consideration at the
August 1,2005 City Council meeting.
Enclosure
cc: Randy Gehl, Public Information Officer
Bruce Gluckman
Kathy McMullen
SUITE 330, HARBOR VIEW PLACE, 300 MAIN STREET DUBUQUE, IA 52001-6944
TELEPHONE (563) 583-4113/ FAX (563) 583-1040/ EMAIL balesq@cityofdubuque.org
....
..., JPMorgan
JPMorgan Chase Bank, N.A.
c/o IPMorgan Treasury Services
Global Trade Services
10420 Highland Manor Drive
Tampa, FL 33610
JUL 1, 2005
OUR Llc NO.: P-217420
AMENDMENT NO.: 1
TO:
CITY OF DUBUQUE
10838 HIGHWAY 52 NORTH
DUBUQUE, IA 52001
APPLICANT:
MCC IOWA LLC
100 CRYSTAL RUN ROAD
MIDDLETOWN, NY 10941
IN ACCORDANCE WITH INSTRUCTIONS RECEIVED, THE ABOVE REFERENCED STANDBY
LETTER OF CREDIT HAS BEEN AMENDED AS FOLLOWS:
RECEIVER'S REFERENCE:
NONREF
Llc DECREASED BY:
USD75,000.OO
THE AVAILABLE AMOUNT OF THIS LETTER OF CREDIT AFTER GIVING EFFECT TO THIS
AMENDMENT IS USD25,000.00 (TWENTY-FIVE THOUSAND UNITED STATES DOLLARS).
AS A RESULT OF THE MERGER BETWEEN THE CHASE MANHATTAN BANK, MORGAN GUARANTY
TRUST COMPANY, CHASE USA, AND ALSO TO BETTER SERVICE OUR CUSTOMERS, WE HAVE
CONSOLIDATED OUR STANDBY LETTER OF CREDIT PROCESSING INTO OUR TAMPA,
FLORIDA LOCATION.
PLEASE ALSO NOTE THAT AS A RESULT OF THE MERGER BETWEEN JPMORGAN CHASE BANK
AND BANK ONE, JPMORGAN CHASE BANK HAS CHANGED ITS NAME TO JPMORGAN CHASE
BANK, N.A. THEREFORE, THE NAME OF JPMORGAN CHASE BANK IS REPLACED WITH THE
NAME JPMORGAN CHASE BANK, N.A., WHEREVER SUCH BANK'S NAME APPEARS HEREIN.
,
THE ISSUING BANK'S NAME AND ADDRESS FOR COMMUNICATIONS AND PRESENTATION
REGARDING THIS LETTER OF CREDIT HAS BEEN CHANGED TO:
JPMORGAN CHASE BANK, N.A.
clo JPMORGAN TREASURY SERVICES
STANDBY LETTER OF CREDIT DEPARTMENT, 4TH FLOOR,
10420 HIGHLAND MANOR DRIVE,
TAMPA, FL 33610.
OUR CUSTOMER SERVICE NUMBER IS 1-800-634-1969 AND CHOOSE OPTION 1. OUR
CUSTOMER SERVICE E-MAIL ADDRESSIS:GTS.CLIENT.SERVICES@JPMCHASE.COM
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....
..., J PMorgan
JPMorgan Chase Bank, N.A.
c/o IPMorgan Treasury Services
Global Trade Services
10420 Highland Manor Drive
Tampa, FL 33610
JUL 1, 2005
OUR L/C NO.: P-217420
AMENDMENT NO.: 1
THE NUMBER AND THE DATE OF OUR CREDIT AND THE NAME OF OUR BANK MUST BE
QUOTED ON ALL DRAFTS REQUIRED.
NOTE TO APPLICANT:
OUR RECEIPT OF BENEFICIARY'S WRITTEN CONSENT IS ~EQUIRED PRIOR TO THIS
AMENDMENT BECOMING EFFECTIVE.
NOTE TO BENEFICIARY:
PLEASE INDICATE YOUR ACCEPTANCE/REJECTION OF THIS AMENDMENT BY SIGNING A
COPY INDICATING ACCEPTANCE /REJECTION AND RETURNING THE SIGNED DOCUMENT
EITHER VIA FAX TO (813)432-5161, (813)432-5162, (813)432-5163 OR VIA MAIL
TO OUR OFFICE LOCATED AT:
JPMORGAN CHASE BANK, N.A.
ATTN: STANDBY LETTER OF CREDIT DEPT.
10420 HIGHLAND MANOR DRIVE, 4TH FLOOR,
TAMPA, FL 33610.
WE ACCEPT THIS AMENDMENT
WE REJECT THIS AMENDMENT
COMPANY NAME:
COMPANY NAME:
SIGNATURE:
SIGNATURE:
TITLE:
TITLE:
ALL OTHER TERMS AND CONDITIONS OF THE CREDIT REMAIN UNCHANGED.
NOTE: KINDLY SIGNIFY YOUR CONSENT TO THIS AMENDMENT BY SIGNING AND
RETURNING THE ENCLOSED COpy DIRECTLY TO US OR THE ADVISING BANK (IF ONE IS
PRESENT) FOR TRANSMISSION TO US. YOUR IMMEDIATE ATTENTION TO THIS MATTER
WILL BE APPRECIATED IN ORDER THAT WE MAY COMPLETE OUR RECORDS.
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