HomeMy WebLinkAboutR97-142 Draw on Vail/Arrowhead Filing 13Commissioner moved adoption
of the following R solution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 97- lVc�
RESOLUTION CONFERRING POWER OF ATTORNEY UPON
JAMES R. FRITZE, COUNTY ATTORNEY, ROBERT W.
LOEFFLER, DEPUTY COUNTY ATTORNEY, RENEE ALLEE
BLACK, 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.
6086 IN THE AMOUNT OF $237,119.63 FOR THE ACCOUNT
OF VAIL /ARROWHEAD, INC. DRAWN ON COLORADO
NATIONAL BANK
WHEREAS, on or about October 17, 1995, pursuant to C.R.S. 30 -28 -137, the County
entered into a Subdivision Improvements Agreement (hereinafter "SIA ") with Vail /Arrowhead,
Inc. as a condition of the County's final plat approval of Filing 13; and
WHEREAS, Vail/Arrowhead, Inc. provided collateral in the form of an Irrevocable Letter
of Credit No.6086 in the amount of $237,119.63 to guarantee the faithful completion of the
public improvements; and
WHEREAS, said Letter of Credit will expire on November 15, 1997; and
WHEREAS, the Board finds, determines and declares that there has been a default under
the SIA and that a sum certain of $237,119.63 is required to remedy the default.
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, Robert W. Loeffler, Deputy County Attorney,
Renee Allee Black, Assistant County Attorney, and Maureen Amundson, Paralegal, are
authorized to execute any and all documents necessary to draw upon irrevocable Letter of Credit
No.6086, in the amount of $237,119.63 issued by Colorado National Bank.
THAT, James R. Fritze, County Attorney, Robert W. Loeffler, Deputy County Attorney,
Renee Allee Black, 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 No.6086 in the amount of $237,119.63 issued by Colorado
National Bank.
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 ( Ad day of
November, 1997.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
By. �E i
Clerk to the Board of Johnnette Phillips
County Commissioners Chairman
s E. Johnson, .,
ommissioner
George XAGates,
Commissioner
a
Commissioner (_ seconded adoption of the foregoing resolution. The roll having been
called, the vote was as follows:
Commissioner Johnnette Phillips
Commissioner James E. Johnson, Jr.
Commissioner George A. Gates iyu0 "
This Resolution passed by3 - y vote of the Board of County Commissioners of the County of
Eagle, State of Colorado.
