HomeMy WebLinkAboutR89-066 partial release of collateral for Fitzsimmons motor companyCommissioner Q moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 89-
FITZSIMMONS MOTOR COMPANY
BUILDING PERMIT NO. 3442
PARTIAL RELEASE OF COLLATERAL
WHEREAS, on or about April 4, 1988, the Board of County
Commissioners of the County of Eagle, State of Colorado
(hereinafter the "Board ") did issue a Building Permit #' 3442 to
Fitzsimmons Motor Company (hereinafter "Fitzsimmons "); and
WHEREAS, in order to guarantee the faithful completion of the
certain public improvements required under permit, the Board took
as collateral, Letter of Credit #49 in the amount of $1,945.00
issued by Alpine Bank of Basalt, assigned to the Board of County
Commissioners of Eagle, State of Colorado; and
WHEREAS, Fitzsimmons has represented to the Board, and members
of the County staff have corroborated Fitzsimmon's representations,
that the public improvements required under the building permit
have been satisfactorily completed; and
WHEREAS, Fitzsimmons has applied for release of its collateral
in the full amount for completion of the public improvements.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, based upon the oral and written recommendations of the
Department of Community Development, the Board finds that
Fitzsimmons obligations under Building Permit - have been
satisfied and a reduction in collateral held by the Board is
warranted.
THAT, the Board hereby authorizes a partial release of
collateral held by Alpine Bank in the amount of 51,750.50 for
performing certain obligations under Buildina Permit 1 4 1 1 442., thereby
reducing the Letter of Credit to 5194.50.
THAT, the remaining collateral in the amount of S194.50 shall
be kept by the Board for a one year warranty period to guarantee
the work that has been completed.
J
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.
of
MOVED, READ AND ADOPTED by the Board of County Commissioners
the County of Eagle, Sta" of Colorado, at its regular meeting
t.2i , 1939.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
Chairman
on
` o� W el U
Donal H. Welc
Commissioner
"v X/01
GeorgA A. Gates
Commissioner
Commissioner / P-X seconded adoption of
the foregoing resolution. The roll having been called, the vote
was as follows:
Commissioner
Richard L.
Gustafson
Q/jsp�j
Commissioner
Donald H.
welch
Commissioner
George A.
Gates
This Resolution passed by A O vote of the Board of
Count,: Commissioners of the County of Eagle, State of Colorado.
