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HomeMy WebLinkAboutR95-115 draw on Wend Colorado Partnershipr Commissioner �_ moved adoption of the following Resolu ion: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 95 - /Y,5 7 RESOLUTION CONFERRING POWER OF ATTORNEY UPON JAMES R. FRITZE, COUNTY ATTORNEY, MARY JOAN BERENATO, DEPUTY COUNTY ATTORNEY, ROBERT W. LOEFFLER, ASSISTANT COUNTY ATTORNEY AND MAUREEN AMUNDSON, PARALEGAL TO ACT AS ATTORNEY IN FACT FOR THE COUNTY OF EAGLE, STATE OF COLORADO, WITH RESPECT TO LETTER OF CREDIT NO. 94 -24 IN THE AMOUNT OF $51,231.00 FOR THE ACCOUNT OF WEND COLORADO PARTNERSHIP. DRAWN ON THE SNOW BANK, N.A. WHEREAS, pursuant to C.R.S. 30 -28 -137, the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board ") entered into that certain Subdivision Improvements. Agreement (hereinafter "SIA") dated February 15, 1994 recorded in Book 632 at Page 739 of the records of the Eagle County Clerk and Recorder, with June Crawford, as General Partner of F.B. Crawford & Co, J.A. Crawford & Co., Colorado Partnerships and the Crawford Family Limited Partnership, a Colorado Limited Partnership, (hereinafter collectively known as "Crawfords"), as a condition of the County's final plat approval for'Planned Unit Development known as the El Jebel Texaco PUD (hereinafter "PUD"); and WHEREAS, the Crawfords provided collateral in the form of a plat restriction to guarantee the faithful completion of the public improvements; and WHEREAS, on March 18, 1994, the Board approved a Consent to Assignment and Assumption of Certain Obligations recorded in Book 637 at Page 255 of the records of the Eagle County Clerk and Recorder, by and between the Crawfords and Kevin Tucker and Tammy J. Tucker, (hereinafter collectively referred to as the "Tuckers ") wherein the Tuckers agreed to undertake, the obligations of the SIA, all as set forth therein; and r" WHEREAS, on February 27, 1995, the Tuckers and Wend Colorado Partnership, (hereinafter collectively referred to as "Subdivider ") and the Board entered into an Agreement to amend the El Jebel Texaco PUD; such amendment required the Subdivider to post collateral for the additional public and off -site improvements associated with the PUD Amendment; and WHEREAS, Subdivider presented the Board with Irrevocable Letter of Credit No.. 94 -24 issued by The Snow Bank, N.A. in the amount of $51,231.00 to guarantee the faithful completion of those additional public and off -site improvements; and WHEREAS, said Letter of Credit in the amount of $51,231.00 will expire on September 15, 1995; and WHEREAS, the Board finds, determines and declares that it is in the best interest of the County that it draw upon the collateral in the amount of $51,231.00; and WHEREAS, no such extension to said Letter of Credit has been received by the Board as yet, and the Board deems it to be in the best interests of the County of Eagle that the subject Letter of Credit be drawn upon prior to its expiration. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, James R. Fritze, County Attorney, Mary Joan Berenato, Deputy County Attorney, Robert W. Loeffler, Assistant County Attorney, and Maureen Amundson, Paralegal, are authorized to execute any and all documents necessary to draw upon irrevocable Letter of Credit No. 94 -24, in the amount of $51,231.00 issued by The Snow Bank, N.A. THAT, James R. Fritze, County Attorney, Mary Joan Berenato, Deputy County Attorney, Robert W. Loeffler, Assistant County Attorney and Maureen Amundson, Paralegal, are hereby granted power. of attorney to act as attorney in fact for the County of Eagle, State of Colorado, and its Board of County Commissioners, with regard to any and all actions that may be necessary to draw upon Letter of Credit 94 -24 in the amount of $51,231.00 issued by The Snow Bank, N.A. THAT, the Chairman of the Board is authorized to execute a Power of Attorney for the purposes contemplated herein in the form attached to this Resolution as Exhibit A and made a part hereof by this reference. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the / /fl day of L, , 1995. ATTEST: County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS ?Jo Phillips, Commi sioner Commissioner seconded adoption of the foregoing resolution. TheTroll having been called, the vote was as follows: Commissioner James E. Johnson, Jr. =Commissioner George A. Gates , Commissioner Johnnette Phillips This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. �A George A. Gates, Commissioner