HomeMy WebLinkAboutR07-059 Heritage Park PUD Letter of Credit
Commissioner ~
of the following Resolution
moved adoption
BOARD OF COUNTY COl\I:MISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 2007-1L~Cj
RESOLUTION CONFERRING POWER OF ATTORNEY UPON BRYAN R. TREU,
COUNTY ATTORNEY, ROBERT L. l\;IORRIS, DEPUTY COUNTY ATTORNEY,
CHRISTINA L. HOOPER, ASSIST ANT COUNTY ATTORNEY TO ACT AS
ATTORNEY IN FACT FOR THE COUNTY OF EAGLE, STATE OF COLORADO,
WITH RESPECT TO WELLS FARGO BANK, N.A. LETTER OF CREDIT NO.
NZS538934 IN THE Al\tIOUNT OF $216,651.31 FOR THE ACCOUNT OF HERITAGE
BUILDING & DEVELOPMENT, INC. RELATIVE TO HERITAGE PARK PUD
SUBDIVISION
WHEREAS, on or about September 21, 2004, the Board of County Commissioners of
the County of Eagle, State of Colorado ("Board") entered into a Subdivision Improvements
Agreement ("Agreement") with Heritage Building & Development, Inc., relative to Heritage
Park PUD Subdivision ("Subdivider"); and
WHEREAS, the Subdivider provided collateral in the form of Letter of Credit No.
NZS538934 in the amount of $216,651.31 to guarantee the faithful completion of the public
improvements; and
WHEREAS, said Letter of Credit expires May 30, 2007 and Subdivider has not provided
extended collateral as requested; and
WHEREAS, the Board finds, determines and declares that there has been a default under
the Agreement and a sum certain in the amount of $216,651.31 is required to remedy the default.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMl\tIlSSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, Bryan R. Treu, County Attorney; Robert L. Morris, Deputy County Attorney,
and Christina L. Hooper, Assistant County Attorney are authorized to execute any and all
documents necessary to draw upon said Letter of Credit.
THAT, Bryan R. Treu, County Attorney; Robert L. Morris, Deputy County Attorney,
and Christina L. Hooper, Assistant County Attorney are hereby granted power of attorney to act
as attorney in fact for the County of Eagle, State of Colorado, and its Board of County
Commissioners, with regard to any and all actions that may be necessary to draw upon said
Letter of Credit.
THAT, the Chairman of the Board is authorized to execute a Power of Attorney for the
purposes contemplated herein in the form attached to this Resolution as Exhibit "A" and made a
part hereof by this reference.
l\IOVED, READ AND ADOPTED by the Board of County Commissioners of the
County of Eagle, State of Colorado, at its regular meeting held the 22nd day of May, 2007.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
ATTEST:
Clerk to the Boar of
County Commissioners
, " "'.~;.~
Arn M. Menconi,
Chairman
dMA,21i,A~,
Sara J. FIS er,
,
_~o i ne
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.
Commissioner !:::f~ seconded adoption of the foregoing resolution.
having been called, the vote was as follows:
The roll
Commissioner Menconi
Commissioner Fisher
Commissioner Runyon
This Resolution passed by C5f /0
the County of Eagle, State of Colorado.
~
oy
~~
vote of the Board of County Commissioners of
EXHIBIT "A"
PO\VER OF ATTORNEY
KNOW ALL l\IEN BY THESE PRESENTS: That the County of Eagle, State of
Colorado, a body politic and corporate, reposing special trust and confidence in Bryan R. Treu,
County Attorney; Robert L. Morris, Deputy County Attorney; and Christina L. Hooper, Assistant
County Attorney of the County of Eagle, State of Colorado, has made, constituted and appointed,
and by these presents does make, constitute and appoint the said Bryan R. Treu, Robert L. Morris
and Christina L. Hooper and each of them, the tme and lawful attorney for the County of Eagle;
and in its name, place and stead, for its sole use and benefit, to draw upon Letter of Credit No.
NZS538934 in the amount of $216,651.31 issued by Wells Fargo Bank, N.A. and to execute,
make, endorse, and accept any documents necessary to accomplish the foregoing purpose.
Hereby giving and granting unto Bryan R. Treu and/or Robert L. Morris and/or Christina
L. Hooper, said attorneys, 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 fully 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 May,
2007.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
Clerk of the oard of
County Commissioners
By: be; ~;''-L-
Am M. MeflcoHi,
.c1:laifffitlli 9 ~-T~
fJ~..
STATE OF COLORADO )
) ss:
County of Eagle )
I, , Notary Public in and for said Eagle County, in the State aforesaid,
do hereby certify that Arn M. Menconi, Chairman of the Board of County Commissioners of the
County of Eagle, State of Colorado, and Teak J. Simonton, 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
,2007.
My commission expires
Notary Public
G:\NRW\resolulions\Draw - Arrowhead River Ranch 2.doc
