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HomeMy WebLinkAboutR90-022 Authorizing Drawing on Letter of Credit 1 Commissioner @ Or`e moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO • . RESOLUTION NO. 90- AUTHORIZING THE DRAWING ON LETTER OF CREDIT AND APPOINTING ATTORNEYS -IN -FACT RELATIVE THERETO WHEREAS, pursuant to §30 -28 -137, C.R.S., the Board of County Commissioners of the County of Eagle, State of Colorado ( "the Board "), on or about April 18, 1988, entered into a Subdivision Improvements Agreement ( "Agreement ") with Harlan A. Eckhardt; Robert Barker and Karin Barker; Carl Berman and .Ann Berman; Leslie S. Shapiro and Maureen Shapiro; Marlan E. Gamber and Victoria A. Gamber; Steven Roosa; Vail National Bank; Gerald Rea; Howard E. Katzman and Shirley Katzman; Peter Schlesinger on behalf of the Kimon Company; and Philip R. Connors ( "Subdividers ") as a condition for final plat approval for Colorow Subdivision; and WHEREAS, in order to guarantee the faithful completion of certain public improvements required under the Agreement, the Subdividers agreed to provide the Board with an Irrevocable Letter of Credit or to deposit a cash sum with the County, as required by the terms of said Agreement; and WHEREAS, the Agreement further provides that the collateral be paid out to the County in annual payments by each Subdivider; and WHEREAS, Philip .R. Connors has failed to make said payment for the year 1989, and said payment is now past due; and WHEREAS, the Letter of Credit No. 89 issued by Vail National Bank for the benefit of Philip R. Connors for Lot 7, Colorow Subdivision, pursuant to the Agreement, is due to expire March 3, 1990. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: 1. That Eagle County, in order to assure the completion of the improvements required by the Agreement, draw upon said Letter of Credit No. 89, in the full amount of $4,524.32, unless Mr. Connors provides the County with an extension or a new letter of credit, and pays the past -due payment for 1989, on or before February 23, 1990. • • 2. That Kevin Lindahl, Eagle County Attorney; and Thomas Bigler, Assistant Eagle County Attorney; are hereby appointed attorneys -in -fact for the purpose of drawing on Letter of Credit No. 89; and each is authorized to make, do and perform all acts and things as set forth in the form attached hereto as Exhibit A. 3. That the Board finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of the County of Eagle, State of Colorado. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 4 WM day of February, 1990. r at s+ COUNTY OF EAGLE, STATE OF }} at COLORADO, By and Through Its • T: BOARD OF COUNTY COMMISSIONERS MO �1t/1t� • BY • i ✓. �. a�._1J i .�� By: Clerk to the card o Donal. H. Welch, Chai an County Commissioners Richard H. Gustafson, Commissioner Georg a e�1 or A. Gates, Commissioner Commissioner 1J.pi / seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates Commissioner Donald H. Welch ,/- Commissioner Richard L. Gustafson Ail This Resolution passed by ACS vote of the Board of County Commissioners of the County of Eagle, State of Colorado. File 87 -198 of -2- • • 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. 89 issued by the Vail National Bank, for the account of Philip R. Connors for Lot 7, Colorow Subdivision, in the amount of $4,524.32; and to execute, make, endorse, and accept any documents necessary to accomplish the foregoing purpose. Hereby giving and granting unto Kevin Lindahl and /or Thomas Bigler, said attorney, full power and authority to do and perform all and every act and thing whatsoever requisite and necessary to • be done in and about the premises, as full to all intents and purposes as it might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that its said attorney or his substitutes shall lawfully do or cause to be done by virtue hereof. IN WITNESS WHEREOF, the County of Eagle has caused its name to be signed by its Chairman of the Board of County Commissioners, and its seal to be affixed and attested by its Clerk, all being. , done in the Town of Eagle, and State of Colorado, on this a e) day of February, 1990. ,O$ j + COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its • ;: ATTEST: BOARD OF COUNTY COMMISSIONERS ac c �ORADQ .. B : ✓ .✓... / �� .1" jerk of the Boar• of Donald H. Welch, Chairm ounty Commissioners STATE OF COLORADO ss County of Eagle i, , Notary Public in and for said Eagle 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 Johnnette Phillips, 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. Given under my hand and notary seal, this day of February, 1990. My commission expires • Notary Public 87 -148 • EXHIB1T