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Form BOE-487-DCB Fillable Irrevocable Letter of Credit
(all forms fillable on Windows, Mac, Android tablets, and iPad using Adobe Reader XI)A federally chartered bank or savings institution; or A group (syndication) of domestic or foreign bank or savings institutions A State of California chartered bank or savings institution; or An Aaa Aa or A long term bank deposit rating for the bank or savings institution in the current monthly edition of Moody s Any other foreign or domestic bank or savings institution; or CR ETAPPLICANT ADDRESS (city state zip code) (bank letter of credit number) (branch of bank) (clear) CLEAR (date of issue) (enter legal name of taxpayer entity to be covered) (enter legal name of taxpayer/entity to be covered) (expiry date) (issuing bank address city state zip code) (issuing bank name) (name address of bank) (name of bank) (name of bank) (name of taxpayer) (name/address of bank) (place for presentation of documents) (place of issue) (print) PRINT (this document consists of (number of signed pages)) (us dollars) 2 A draft signed by the Executive Director of the Board of Equalization or authorized representative of the Executive Director for the a) failed to comply with its obligations under Part 13 of Division 2 of the California Revenue and Taxation code including without above and each drawing honored by the issuing bank shall reduce the amount set forth pro tanto Partial drawings are permitted all amendments thereto amount of the drawing requested under this letter of credit and including a reference to the letter of credit number and original date b) filed for bankruptcy; and/orc) failed to renew or substitute acceptable security for tax liabilities within the ten (10) day requirement before the expiration date of BANK CONTACT NAME PHONE NUMBERBANK ADDRESS (city state zip code) Bank Credit Research Monthly Rating List prepared by Moody s Investor Service Inc New York BANK NAME AMOUNT (U S $ spell out amount in U S dollars) Board of Equalization shall require the letter of credit to be replaced by a bank with an acceptable rating within 45 days of the publication BOE 487 DCB (BACK) REV 1 (10 10) BOE 487 DCB (FRONT) REV 1 (10 10) ceedings shall be subject to the jurisdiction of California courts and administrative agencies and subject to California law credit Credit available with by payment at sight against presentation of demand(s) for payment in the form described above DOCUMENTS REQUIRED1 A signed beneficiary s statement executed by the Executive Director of the Board of Equalization (BOE) or authorized representative of Drawings honored by the issuing bank under this letter of credit shall not in the aggregate exceed the total amount of credit set forth drawn on at the request and for the account of the following named parties Equalization Banking account number will be provided at the time payment is requested expiration date unless not less than 45 days prior to such date the issuing bank notifies the beneficiary in writing sent by registered mail ExTENSION OF ExpIRATION DATE (EvERgREEn CLaUSE) failed to renew or substitute acceptable security for tax liabilities within the ten (10) day requirement before the expiration date of this forth below: If a bank s or savings institution s ratings subsequent to the issuance of the letter of credit falls below an acceptable rating level the INFORMATIONA letter of credit must be issued by ing branch or savings institution in any event shall have at the time of issuance of the letter of credit an acceptable credit rating as set IRREVOCABLE LETTER OF CREDIT issuing bank hereby establishes in your favor this irrevocable letter of credit in the amount of U S dollars $ payable ISSUING BANK NAME BANK LETTER OF CREDIT NUMBERISSUING BANK ADDRESS (city state zip code) LONG TERM BANK DEPOSIT RATING OF ISSUING BANK (as stated in LEGAL pROCEEDINGSIf legal proceedings are initiated by any party with respect to the payment of the letter of credit the issuing bank agrees that such pro letter may not be presented to the issuer of this letter of credit earlier than ten (10) calendar days before the expiration of the letter of limitations payment of all taxes interest and penalties; MISCELLANEOUS pROVISIONSExcept as stated herein this Irrevocable Letter of Credit is not subject to any condition or qualification and is the issuing bank s individual Moody s Bank Credit Research Monthly Ratings List) Note: A draft accompanied by a statement indicating that the named taxpayer listed in paragraph 1 under Documents Required has obligation which is in no way contingent upon reimbursement of issue of this letter of credit; and3 The original letter of credit documents and all amendments thereto and any confirming bank s original letter of credit document and of our bank must be quoted on all draft required of the lower credit rating or overnight delivery service to the beneficiary s address the issuing bank elects not to so renew the credit pAYMENT BY FED WIRED TRANSFER ONLYA Federal Reserve Wire Transfer is an electronic payment system used by federal reserve banks to transfer funds instantaneously Payment of any amount under this letter of credit by the issuing or a confirming bank shall be made by fed wire transfer to the Board of PLACE FOR PRESENTATION OF DOCUMENTS EXPIRY DATEPLACE OF ISSUE DATE OF ISSUEBENEFICIARYState Board of Equalization revision ICC publication 500 and engages us in accordance with the terms thereof The number and the date of the credit and the name Special Taxes and FeesPO Box 942879 Sacramento CA 94279 0088APPLICANT NAME ACCOUNT NUMBER STATE OF CALIFORNIABOARD OF EQUALIZATION the documents detailed below and your draft(s) during normal business hours at the Executive Director that has done any of the following: The expiration date of this letter of credit will automatically extend for an additional period of one (1) year from the present or each future The irrevocable letter of credit must be issued by and payable at a branch in the continental United States Alaska or Hawaii The issu The issuing bank will be responsible for all wire transfer fees the undersigned THIS DOCUMENT CONSISTS OF (number of signed pages) AUTHORIZED SIGNATURE this letter of credit We hereby issue this Documentary Credit in your favor It is subject to the Uniform Customs and Practice for Documentary Credits 1993 within three (3) business days (as hereinafter defined) after presentation to