SCHMIDT-TIAGO CONST. v. CITY OF COLO. SPRINGS

No. 80CA0908.

633 P.2d 533 (1981)

SCHMIDT-TIAGO CONSTRUCTION COMPANY, a Colorado corporation, Plaintiff-Appellant, v. The CITY OF COLORADO SPRINGS, a municipal corporation, Defendant-Appellee, and Allan D. MILLER, Defendant-Appellee and Third-Party Plaintiff, v. GOLDEN CYCLE CORPORATION, Third-Party Defendant.

Colorado Court of Appeals, Div. II.

August 20, 1981.


Attorney(s) appearing for the Case

J. Royce Renfrow, P. C., J. Royce Renfrow, Colorado Springs, for plaintiff-appellant.

James G. Colvin, II, City Atty., Colorado Springs, for defendant-appellee, The City of Colorado Springs.

Frank W. Davis, Colorado Springs, for defendant-appellee and third-party plaintiff.


PIERCE, Judge.

This action involves the scope of five irrevocable letters of credit issued by the Exchange National Bank to the City of Colorado Springs. We affirm the judgment of the trial court.

The Colorado Springs City Code § 13-22 provides that the City may obtain letters of credit to guarantee that municipal improvements will be made by the developers of subdivisions. Pursuant to this ordinance, the City received five letters of credit issued by...

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