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HomeMy WebLinkAboutR90-012 Glassier Type A Minor Subdivision Partial Release • • • Commissioner moved adoption of the following Resolution: • BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 90 - /Zi o 6 AUTHORIZING THE PARTIAL RELEASE OF COLLATERAL; • s : AUTHORIZING THE DRAWING OF COLLATERAL AND APPOINTING ATTORNEYS IN FACT RELATIVE THERETO; EXTENDING THE SUBDIVISION IMPROVEMENTS AGREEMENT: F. J. GLASSIER TYPE A MINOR SUBDIVISION Lt1 5t WHEREAS, on or about July 31, 1989, the Board of County Commissioners of the County of Eagle, State of Colorado (herein- after "the Board "), entered into a Subdivision Improvements Agreement ( "Agreement ") with F. J. Glassier ( "Subdivider ") relative to the F. J. Glassier Type A Minor Subdivision; and 0 WHEREAS, pursuant to the terms of said Agreement, collateral was provided by Joseph E. Weinreis in the form of a Letter of Credit in the amount of $4,250.00 to guarantee faithful completion m w of certain improvements set forth in the Agreement; and m} WHEREAS, by agreement dated December 21, 1989, the date for so • o completion of the subject improvements was extended to January 28, LI 1990; and biC Si a WHEREAS, the Letter of Credit provided as collateral expires m January 31, 1990, and the Department of Community Development has ow advised that the improvements are only partially completed and are si a J not according to specification; and r., *-+ 0.1 _ A LL WHEREAS, the Board finds, determines and declares that the improvements are partially completed, and that a partial release of collateral is appropriate; and of z CU Z CT1= -` ° WHEREAS, the Board further finds, determines and declares that it is in the best interest of the County that it draw upon the remaining collateral, to ensure proper completion of the improvements, unless the expiration date of the collateral is extended. II • NOW, THEN, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Board hereby authorize the partial release of collateral in the amount of $2,250.00. THAT, unless the expiration of the collateral is extended to March 28, 1990, the Board draw upon the remaining collateral in the amount of $2,000.00. THAT, the Chairman of the Board be authorized to sign a draft for the purpose of drawing upon the Irrevocable Letter of Credit No. 12970, dated July 28, 1989, issued by Central Bank of Glenwood Springs, said draw to be in the amount of $2,000.00. THAT, said sum of $2,000.00 be deposited by the Eagle County Treasurer and held as collateral to guarantee the satisfactory completion of said improvements; said sum shall be returned to Joseph E. Weinreis upon satisfactory completion of the improvements, less ten percent retainage for the two -year warranty period as provided, and less the costs incurred by the County in drawing on the subject Letter of Credit. THAT, Kevin Lindahl, Eagle County Attorney, and Thomas Bigler, Assistant Eagle County Attorney, be each granted power of attorney to act as attorney in fact for the County of Eagle, State of Colorado, and its Board of County Commissioners; to perform all acts and execute any and all documents reasonably incidental to drawing upon the subject Letter of Credit. THAT, the Chairman of the Board be authorized to execute a Power of Attorney for the purposes contemplated herein in the form attached to this Resolution as Exhibit A. THAT, the Board authorize an extension to the Subdivision Improvements Agreement to and including March 28, 1990. 419224 B - 523 P - 058 02/14/90 09:09 PG 2 OF 4 -2- • MOVED, READ AND ADOPTED- by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the .3064 day of January, 1990. 4s4' COUNTY OF EAGLE, STATE OF ill^ � COLORADO, By and Through Its a .T BOARD OF COUNTY COMMISSIONERS 'a/a/iW By • ■11; k 'lerk to the Board of Donald H. Weich, Cha rman County Commissioners Geor. -/'. Gates, Commissioner -i Richard L. e•s on, Commission: / / / Commissioner Jr s' 6 ) seconded adoption of the foregoing resolution. The roll having been called, the vote was 3 as follows: Commissioner Donald H. Welch A Commissioner George A. Gates Commissioner Richard L. Gustafson AT , This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. 419224 B -523 P -058 02/14/90 09:09 PG 3 OF 4 #89 -1 of -3- POWER OF ATTORNEY KNOW ALL MEN BY THESE PRESENTS: That the County of Eagle, State of Colorado, a body politic and corporate, reposing special trust and confidence in Kevin Lindahl and Thomas Bigler of the County of Eagle, State of Colorado, has made, constituted and appointed, and by these presents does make, constitute and appoint the said Kevin Lindahl and /or Thomas Bigler the true and lawful attorney for the County of Eagle; and in its name, place and stead, for its sole use and benefit, to draw upon Irrevocable Letter of Credit No. 12970 dated July 28, 1989, issued by Central Bank �of Glenwood Springs for the account of Joseph E. Weinreis (for the F. J. Glassier Type A Minor Subdivision) in the amount of $2,000.00; and to execute, make; endorse, and accept any documents necessary to accomplish the foregoing purpose. Hereby giving and granting unto Kevin Lindahl and /or Thomas Bigler, said attorney, full power and authority to do and perform • all and every act and thing whatsoever requisite and necessary to be done in and about the premises, as full to all intents and purposes as it might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that its said attorney or his substitutes shall lawfully do or cause to be done by virtue hereof. IN WITNESS WHEREOF, the County of Eagle has caused its name to be signed by its Chairman of the Board of County Commissioners, and its seal to be affixed and attested by its Clerk, all being done in the Town of Eagle, and State of Colorado, on this day of January, 1990. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS By: By: • Clerk of the Board of Donald H. Welch, Chairman County Commissioners STATE COLORADO ) 4 SS • County of Eagle ) I, Notary Public in and for said Eagle ti+ County, in the State aforesaid, do hereby certify that Donald H. Welch, Chairman of the Board of County Commissioners of the County of Eagle, State of Colorado, and , County Clerk and Clerk to the Board of County Commissioners, County of Eagle, State of Colorado, personally known to me to be the persons whose names are subscribed to the within Power of Attorney, appeared before me this day in person and acknowledged that they signed, sealed and delivered the said instrument of writing as their free and voluntary act and deed, for the uses and purposes • therein set forth. Giv n under my hand and notary seal, this day of January, • 1990. My commission expires Notary Public • EXHIBIT A • 419224 B--523 Pr -058 02/14/90 09 :09 PG 4 OF 4