HomeMy WebLinkAboutR97-144 final release of collateral for Cordillera Valley Club Golf Course Reclamation-6AO
Commissioner Lz� moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 97-_44_4
AUTHORIZING FINAL RELEASE OF COLLATERAL
FOR THE
RECLAMATION AGREEMENT
CORDILLERA VALLEY CLUB GOLF COURSE
WHEREAS, pursuant to C.R.S. 30- 28 -37, the Board of County Commissioners of the
County of Eagle, State of Colorado ( "County ") entered into a Reclamation Agreement dated March
21, 1995, ( "Agreement ") with Wildhorse Investors Limited Partnership ( "Subdivider ") in the event
reclamation would have been required for the Cordillera Valley Club Golf Course and as a condition
of final plat approval for approval for Wildhorse Subdivision, Filing 1; and
WHEREAS, pursuant to the Agreement the Subdivider provided the County with collateral
required under the Agreement in the form of Letter of Credit No. 937 -3013 LC 42 issued by
Firstbank of Avon in the amount of $278,222.00 ( "Collateral'); and
WHEREAS, pursuant to the Agreement the Subdivider may apply to the County for a
release of its Collateral once the Golf Course is complete; and
WHEREAS, Subdivider has represented to the County that the Golf Course is complete and
has therefore a requested a return of its Collateral held pursuant to the Agreement; and
WHEREAS, the Subdivider requests a full and final release of its collateral; and
WHEREAS, based upon the oral and written recommendations of the County Engineer, see
Exhibit "A ", attached hereto and incorporated herein by this reference and the County Attorney, THE
COUNTY FINDS that the improvements associated with Cordillera Valley Club Golf Course are
complete and a full release of the Collateral held by the County is warranted.
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NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
ZISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, based upon the recommendations of the County Engineer the Board hereby
authorizes the full and final release of Collateral in the amount of $278,222.00.
THAT, this document shall be recorded in the Records of the Eagle County Clerk and
Recorder, which shall be evidence that the Subdivider's obligations under the Agreement are
complete.
MOVED, READ AND ADOPTED by the Board of County Commissioners of the County
of Eagle, State of Colorado, at its regular meeting held the /7-CT. day of November, 1997.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
N
By ^(i
ler to the Bodrd of Johnnette Phillips,
County Commissioners Chairman
aes E. John n, Jr.,
Commission
George Gates, Commissioner
Commissioner seconded adoption of the foregoing resolution. The roll
having been called, t e vote was as follows:
Commissioner Johnnette Phillips , L
Commissioner James E. Johnson, Jr.
Commissioner George A. Gates
This Resolution passed by 3-0 vote of the Board of County Commissioners of
the County of Eagle, State of Colorado.
File No. 92 -16
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a
a
a
MEMORANDUM
EAGLE COUNTY ENGINEERING
TO: Maureen Amundson, Attorney's Office
FROM: John Althoff, Engineering
DATE: October 21, 1997
RE: Cordillera Valley Club
Golf Course Reclamation Agreement
The golf course at the Cordillera Valley Club is complete and they are playing golf. I would suggest
that the Reclamation Agreement be closed out and any collateral held be returned.
xc: George Roussos
Chrono /file
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EXHIBIT
