HomeMy WebLinkAboutR97-143 draw on Design Concepts -Cordillera Valley Club the SanctuaryT
Commissioner moved adoption
of the following Re olution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 97-
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.959 -8723 IN THE AMOUNT OF $267,414.00 FOR THE
ACCOUNT OF DESIGN CONCEPTS DEVELOPMENT CORP.
DRAWN ON LST BANK OF AVON
WHEREAS, on or about July 9, 1996, pursuant to C.R.S. 30 -28 -137, the County entered
into a Subdivision Improvements Agreement (hereinafter "SIA ") with Design Concepts
Development Corp. as a condition of the County's final plat approval of Cordillera Valley Club
Filing 6, The Sanctuary; and
WHEREAS, Design Concepts Development Corp. provided collateral in the form of an
Irrevocable Letter of Credit No.959 -8723 in the amount of $267,414.00 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 $267,414.00 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.959 -8723, in the amount of $267,414.00 issued by 1st Bank of Avon.
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.959 -8723 in the amount of $267,414.00 issued by 1st Bank of
Avon.
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 day of
November, 1997.
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ATTEST:
.L JK
�0ton A0,
Clerk to the Bo d of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Johnnet Phillips
Chairman
es E. John r.,
Commissioner
George AAates ,
Commissioner
3
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
This Resolution passed byC7 - 0 vote of the Board of County Commissioners of the County of
Eagle, State of Colorado.
