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HomeMy WebLinkAboutR96-130 Draw on Wend Colorado PartnershipCommissioner ~ `~% ~ -- r- moved adoption of the following Reso ution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.96- f~Q 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 N0.8668-09595 IN THE AMOUNT OF $40,000.00 FOR THE ACCOUNT OF WEND COLORADO PARTNERSHIP DRAWN ON NORTH VALLEY BANK 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, the Tuckers provided the County with Letter of Credit No. s800292 as collateral for the work required under the SIA; and WHEREAS, on February 27, 1995, the Tuckers and Wend Colorado Partnership, and the Board entered into an Agreement to amend the El Jebel Texaco PUD; such amendment required Wend Colorado Partnership to post collateral for the additional public and off-site improvements associated with the PUD Amendment; and WHEREAS, the County is currently holding Irrevocable Letter of Credit No.8668-09595 in the amount of $40,000.00 to guazantee the faithful completion of the public improvements; and WHEREAS, said Letter of Credit will expire on October 19, 1996; and WHEREAS, the Board fmds, determines and declares that there has been a default under the SIA and that a sum certain of $40,000.00 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, Mary Joan Berenato, Deputy County Attorney, Robert W. Loeffler, Assistant County Attorney, and Maureen Amundson, Paralegal, aze authorized to execute any and all documents necessary to draw upon irrevocable Letter of Credit No.8668-09595, in the amount of $40,000.00 issued by North Valley Bank. 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 alI actions that may be necessary to draw upon Letter of Credit No.8668-09595 in the amount of $40,000.00 issued by North Valley Bank. THAT, the Chairman of the Board is authorized to execute a Power of Attorney for the purposes contemplated herein. 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 September, 1996. ~~~~~ ;~, ~~ COUNTY OF EAGLE, STATE OF ~ ~~~. ~~ `'~ ~, COLORADO, By and Through Its ATTEST: ~,~. .rte BOARD OF COUNTY COMMISSIONERS ..~.~~`~.?.~ l By: Clerk to the Bo d of ~~ Y County Commissioners Chairman ~2o tit-6w Commissioner, seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates G Commissioner 3ohnnette Phillips Commissioner James E. Johnson, Jr. r This Resolution passed by~ -~ vote of the Boazd of County Commissioners of the County of Eagle, State of Colorado. File No. 94-09 mta\wend.drw Commissioner