HomeMy WebLinkAboutR90-130 draw on Colorow Subdivision} 1
Commissioner (g a A moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 90-
AUTHORIZING THE DRAWING ON CERTAIN LETTERS OF CREDIT
AND APPOINTING ATTORNEYS -IN -FACT RELATIVE THERETO -
COLOROW SUBDIVISION
WHEREAS, pursuant to C.R.S. 30 -28 -137, 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, an annual payment is due December 31, 1990, from the
Kimon Company; and
WHEREAS, the Letters of Credit provided by the Kimon Company
and Gerald Rea expire December 31, 1990; and
i 7
WHEREAS, due to the holidays, the Board will not meet between
December 18 and December 31, and will not be able to take any
action regarding this collateral should it become necessary during
that period; and
WHEREAS, the Board finds that the Kimon Company and Gerald
Rea have each received notice by Certified Mail that 1990 payments
are falling due, and that their respective letters of credit expire
on December 31, 1990.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
1. That Kevin Lindahl, and Mara Kleinschmidt (also known as
Mara Kleinschmidt Fowler), and Paula Warzon, are hereby
individually appointed as attorney -in -fact for the Board of County
Commissioners of Eagle County, for the purpose of drawing on the
letters of credit in the amounts described below, should the
Subdividers not provide new collateral by December 21, 1990:
Gerald Rea - Lot 4, Colorow Subdivision. Irrevocable Letter
of Credit No. 131, issued by First Bank of Eagle County. Amount
to be drawn: $1,507.84.
Kimon Company (Peter Schlesinger) - Lots 5 & 6, Colorow
Subdivision. Irrevocable Letter of Credit No. 0073/G01055, issued
by Toronto Dominion Bank of Ontario, Canada (Advising Bank: United
Bank of Denver, Reference No. A458588). Amount to be drawn: the
entire amount of $6,031.42.
2. That Kevin Lindahl, and Mara Kleinschmidt Fowler, and
Paula Warzon, and each of them, is authorized to make, do and
perform all acts and things necessary to draw upon said letters of
credit, should new collateral not be provided by December 21, 1990.
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 � day of December, 1990.
-2-
0
By: lf, `
K erk to the and o
ounty Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By: rTi�s
Donald H. Welch, Chairman
GeorgeA. Gates, Commissioner
and Vice Chairman
Commissioner (q- seconded adoption of
the foregoing resolution. The roll having been called, the vote
was as follows:
Commissioner George A. Gates
Commissioner Donald H. Welch(�Sp`;
Commissioner Richard L. Gustafson Jr
This Resolution passed by P,*-o vote of the Board of County
Commissioners of the County of Eagle, State of Colorado.
File 87 -148 of
-3-
