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HomeMy WebLinkAboutR92-057 reduction of collateral for Pinon Pines{ Commissioner tjel aW moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 92- . AUTHORIZING REDUCTION OF COLLATERAL FOR PINON PINES SUBDIVISION I WHEREAS, on or about October 22, 1991, pursuant to Section 30- 28 -137, C.R.S., the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board ") entered into a Subdivision Improvements Agreement ( "Agreement ") with Jack Schuss ( "Subdivider ") as a condition of final plat approval of Pinon Pines Subdivision I ( "Subdivision "); and WHEREAS, in order to guarantee the faithful completion of certain public improvements required under the Agreement, the Board accepted as collateral an Escrow Account, evidenced by Cashier's Check No. 44957, at Alpine Bank, Snowmass Village, Colorado, of $2,000.00; and WHEREAS, Subdivider had represented to the Board that certain of the improvements are complete, and has applied for a partial release of collateral; and Based upon the oral and written recommendations of the Department of Engineering, THE BOARD FINDS, that the Subdivider's obligations under the Agreement have been partially satisfied, and a reduction in the collateral held by the Board is warranted. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Board hereby authorize the partial release of collateral in the amount of $1,800.00, thereby reducing the collateral to $200.00, as sufficient collateral for the two -year guarantee period. THAT, the Eagle County Treasurer is hereby requested and directed to issue a warrant in the amount of $1,800.00 to the Subdivider. mf THAT, the partial release of collateral granted hereby shall not in any way abrogate the rights of the Board in enforcing the Subdivider's performance of his outstanding obligations under the Agreement. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, this day of May, 1992. • 4 S , COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOA j n COUNTY COMMISSIONERS Clerk to the Board o County Commissioners R ichard G st h • • / ♦ Gates, s. Donal Welch, Commissioner Commissioner seconded adoption of the foregoin4 tes-Glutiori. The roll have been called, the vote was as follows : Commissioner Itilch`a. -rd L. Gustafson A22 -e_ Commissiorie"r° George A. Gates Commissioner Donald H. Welch This Resolution passed by (Z"M g1 i 011,0415 vote of the Board of County Commissioners of the Counity of Eagle, State of Colorado. 91 -152 -2-