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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