HomeMy WebLinkAboutR89-072 partial release of collateral for ColorowCommissioner C/� moved adoption
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of the f ng Reso utI ion:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 89 --rlz
COLOROW SUBDIVISION
PARTIAL RELEASE OF COLLATERAL
WHEREAS, pursuant to Section 30 -28 -237 C.P..S., the Board of
County Commissioners of the County of Eagle, State of Colorado
( "Board ") did, on or about April 18, 1988, enter into a Subdivision
Improvements Agreement ( "Agreement ") with Harlan A. Eckhardt;
Howard E. Katzman and Shirley Katzman; Robert Barker and Karin
Barker; Carl Berman and Ann Berman; Peter Schlessinger; Philip R.
Conners; Leslie S. Shapiro and Maureen Shapiro; Marlan E. Gamber
and Victoria A. Gamber; Steven Roosa; Vail National Bank; and
Gerald Rea ( "Subdivider "); and
WHEREAS, in order to guarantee the faithful completion of
certain public improvements required under the Agreement, the Board
took as collateral, several Letters of Credit and formed the
C010rOW Off -Site Road Improvement Fund for the benefit of the Board
of County Commissioners, County of Eagle, State of Colorado; and
WHEREAS, the Subdivider has represented to the Board, and
members of the County staff have corroborated the Subdivider's
representations, that the portion of public improvements required
tinder Exhibit A of the original Agreement have been satisfactorily
completed; and
WHEF'EAS: Eagle County is authorized to release the sum of One -
Tf;0U5a.lid- Five -Hit ihdred Dcllars �S15 for completion of a portion
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the pilbl i:- 1`ilprCveme. ^. ,.s re Q'.11red under the Agr eerie l:t: and
NOW, T?EREFOP.E, FE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF .'OLORADC,
THAT, based :y o n the written recommendations of the Department
of Engineering, the Board finds that the portion of the
Subdivider 's cbligations under the requirements of Exhibit A of the
original Agreement have been satisfied and a reduction in the
collateral held by the Board is warranted.
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THAT, the Board hereby authorizes the partial release of
collateral in the amount of $1500 for performing obligations under
the Agreement.
THAT, the partial release of collateral granted hereby does
not in any way abrogate the rights of the Board in enforcing the
Subdivider's performance of its outstanding obligations under the
Agreement.
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 ,I, , 1989.
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COUNTY OF EAGLE, STATE OF COLORADO,
By and Thh] :�h Its BOARD OF COUNTY
ATTEST: COMMIS OSY HERS\
, Lairman
Donald H. Welch, Commissioner
4Z&-f s x- A
Georg A. Gates, Commissioner
Commissioner seconded adoption of the
foregoing resolution. Tile fol having been called, the vote was
as follows:
Commissioner
Richard L.
Gustafson
Commissioner
Donald H.
Welch
(j(
Commissioner
George A.
Gates
This Resolution passed by f'/j4QI t4 vote of the Board of County Commissioners of the County Eag e, State of Colorado.
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