HomeMy WebLinkAboutR07-139 Palmerosa Development Letter of CreditCommissioner ~'t-L, ~ moved adoption
of the following Resolution:
BOARD OF COUNTY CONINIISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION N0.2007- ~~
RESOLUTION CONFERRING POWER OF ATTORNEY UPON BRYAN R. TREU, COUNTY
ATTORNEY, ROBERT L. MORRIS, DEPUTY COUNTY ATTORNEY, CHRISTINA C. HOOPER,
ASSISTANT COUNTY ATTORNEY AND ALEX POTENTE, ASSISTANT COUNTY ATTORNEY TO ACT
AS ATTORNEY IN FACT FOR THE COUNTY OF EAGLE, STATE OF COLORADO, WITH RESPECT TO
LETTER OF CREDIT NO. NZS574157 IN THE AMOUNT OF $29H,989.00 FOR THE ACCOUNT OF
PALMEROSA DEVELOPMENT
WHEREAS, the Board of County Commissioners of the County of Eagle, State of
Colorado ("Board") entered into a Subdivision Improvements Agreement ("Agreement") with
Palmerosa Development relative to Palmerosa Development ("Subdivider"); and
WHEREAS, the Subdivider provided collateral in the form of Letter of Credit No.
NZS574157 in the amount of $298,989.00 to guarantee the faithful completion of the public
improvements; and
WHEREAS, said Letter of Credit expires January 1, 2008 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 $298,989.00 for Letter of Credit No.
NZS574157.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMIVIISSIONER5 OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, Bryan R. Treu, County Attorney; Robert L. Morris, Deputy County Attorney;
Christina C. Hooper, Assistant County Attorney; and Alex Potente, 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;
Christina C. Hooper, Assistant County Attorney; and Alex Potente, 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.
i
THAT, the Chairman df the Boazd 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.
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
2007.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
By
Clerk to the ~oazd of ~ oaw°
County Commissioners
~`f ~ ~ ~ ~ ~71Uovi
Sara J
Peter F. Runyon,
Commissioner
Commissioner ~ S ~~-' seconded adoption of the foregoing resolution. The roll
having been called, the vote was as follows:
Commissioner Menconi
Commissioner Fisher
Commissioner Runyon
This Resolution passed by 3 ( U
the County of Eagle, State of Colorado.
~~
S
u
vote of the Boazd of County Commissioners of
EXIiIBIT "A"
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 Bryan R. Treu,
County Attorney; Robert L. Morris, Deputy County Attorney; Christina C. Hooper, Assistant
County Attorney; and Alex Potente, 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, Christina C. Hooper and Alex Potente and
each of them, 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 Letter of Credit No. NZS574157 in the amount
of $298,989.00 issued by Wells Fargo Bank 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
C. Hooper and/or Alex Potente 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
December, 2007.
COUNTY OF EAGLE, STATE OF
COLORAD , By and Through Its
ATTEST: ~~ r ~ BOAR) F UNTY COMMISSIONERS
tlG a°,
H ~
* y.
Clerk of the B and of q~toRPo° Arn M. oni,
County Commissioners Chairman
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
My commission expires
Notary Public
2007.
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