HomeMy WebLinkAboutR86-066 draw on Eagle Bend LOC7fi
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Commissioner 46(/0�rigNi moved adoption
of the following Resolution:
BOARD OF COUNTY
COUNTY OF EAGLE, STATE OF COLORADO
NO. 86 -�
RESOLUTION CONFERRING POWER OF ATTORNEY
UPON JAMES R. FRITZE, ACTING COUNTY
ATTORNEY, TO ACT AS ATTORNEY IN FACT FOR
THE COUNTY OF EAGLE, STATE OF COLORADO,
WITH RESPECT TO LETTER OF CREDIT NO. LG
82/16 ISSUED BY THE MERCANTILE BANK OF
CANADA
WHEREAS, on or about April 28, 1982, Eagle Bend, a
Colorado corporation (hereinafter referred to as the "Sub-
divider"), entered-into a Subdivision Improvements Agreement
with the Board of County Commissioners of the County of Eagle
State of Colorado (hereinafter referred to as the "Board "),
and, for the purpose of guaranteeing the faithful completion
of the public improvements contemplated therein, collateral
was provided by the Subdivider to the Board in the form of
irrevocable Letter of Credit No. LG 82/16, issued by the
Mercantile _Bank of_.Ganada;. and
WHEREAS, it is presently contemplated am agreement
shall be entered into between the Subdivider and the Board
whereby the aforementioned Subdivision Improvements Agreement
shall be terminated; and
WHEREAS, Letter of Credit No. LG 82/16 is due to
expire on August 10, 1986; and
WHEREAS, until such time as said Subdivision Im-
provements Agreement is formally terminated, the Subdivider
has agreed to provide an extension of at least thirty (30)
days to the subject Letter of Credit; and
WHEREAS, no such extension to Letter of Credit No.
LG 82/16 has been received by the Board as yet, and the Board
deems it to be in the best interests of the County of Eagle
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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, Acting County Attorney, is
authorized to execute any and all documents necessary to draw
upon irrevocable Letter of Credit No. LG 82/16, issued by the
Mercantile Bank of Canada.
THAT, James R. Fritze, Acting County Attorney, is
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 No. LG 82/16,
issued by the Mercantile Bank of Canada.
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 Commis-
sioners of the County of Eagle, State of Colorado, at its
regular meeting held the 5th day of August, 19861.
By:
Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
John F. Lou
Commissioner
-2-
Commissioner C9_.1/STf /e /-'dA seconded adoption
of the foregoing resolution. The roll having been called, the
vote was as follows:
Commissioner Donald H. Welch
Commissioner Richard L. Gustafson
Commissioner John F. Loughran
This Resolution passed by —4/1 tlg&vs vote of the Board of
County Commissioners of the County of Eagle, State of Colora-
do.
-3-
EXHIBIT A .
j POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That the County of Eagle, State
of Colorado, a body politic and corporate, reposing special trust and
confidence in James R. Fritze, of the County of Eagle, State of
Colorado, has made constituted and appointed, and by these presents do
make, constitute and appoint the said James R. Fritze, the true and
lawful attorney for the County of Eagle; and in its name, place and
stead, for its sole use and benefit to draw upon the letter of credit
of the Mercantile Bank of Canada, No. LG 82/16, in the amount of U.S.
$169,987.00; and to execute, make endorse, and accept any documents
necessary to accomplish the foregoing purpose.
Hereby giving and granting unto James R. Fritze, said attorney,
full power and authority to do and perform all and every act and thing
whatsoever requisite and necessary to be done in and about the prem-
ises, as fully to all intents and purposes as it might or could do if
personally present, with full power of substitution and revocation,
hereby ratifying and confirming all that its said attorney or his
substitutes shall lawfully do or cause to be done by virtue hereof.
IN WITNESS WHEREOF,
signed by its Chairman
seal to be affixed and
Town of Eagle, and Sta
1986.
ATTEST:
the County of Eagle has caused its name to be
of the Board of County Commissioners, and its
attested by its Clerk, all being done in the
to of Colorado, on this day of August,
By:
Clerk to the Board of
County_ Commissioners
(Affix --
(Affix seal)
STATE OF COLORADO
S4X
County of Eagle
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Donald H. Welch, Chairman
_.Address: P:O:- Box 850
Eagle, Co 81631
Telephone: (303) 328. -7311
I, , Notary Public in and for said Eagle
County, in the State aforesaid, do hereby certify that Donald H.
Welch, Chairman of the Board of County Commissioners of the County of
Eagle, State of Colorado, and Johnnette Phillips, County Clerk and
Clerk to the Board of County Commissioners, County of Eagle, State of
Colorado, personally known to me to be the persons whose names are
subscribed to the within Power of Attorney, appeared before me this
day in person and acknowledged that they signed, sealed and delivered
the said instrument of writing as their free and voluntary act and
deed, for the uses and purposes therein set forth.
Given under my hand and notary seal, this day of August, 1986.
My commission expires
Notary Public
