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Board ratifies $248,465 PNC letter of credit for Doran Elementary roadway work
Summary
The board ratified an irrevocable PNC Bank letter of credit for $248,464.98 as financial security for a highway occupancy permit and roadway improvements required for the Doran Elementary School project.
The Coatesville Area School District board ratified a resolution and the issuance of an irrevocable letter of credit by PNC Bank National Association dated July 22, 2026, in the amount of $248,464.98. The letter serves as the financial security required by the Pennsylvania Department of Transportation for the highway occupancy permit and roadway improvements connected to the Doran Elementary School project.
Operations staff told the board the action ratifies documents already executed on July 20 and July 22 and authorizes district officials to pay applicable fees and take actions necessary to establish and administer the letter of credit. The motion passed by roll-call vote.
