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Home My WebLink AboutR03-069 Letter of Credit - Air Service Agreement with American AirlinesJ Commissioner ~ 9 ,moved adoption of the following resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2003 p/~,~ RESOLUTION AUTHORIZING THE CHAIRMAN OF THE BOARD OF COUNTY COMMISSIONERS TO EXECUTE THE APPLICATION FOR LETTER OF CREDIT AND AGREEMENT FOR LETTER OF CREDIT WITH WELLS FARGO BANK WHEREAS, the Board of County Commissioners of Eagle County entered into an Air Service Agreement with American Airlines, Inc. on May 6, 2003. That agreement provides that American Airlines, Inc. will provide summer air service to the Eagle County Regional Airport under the terms and conditions set forth in that agreement. WHEREAS, a condition of the Air Service Agreement with American Airlines, Inc. is that Eagle County provide a letter of credit in the amount of $200,000 from June 14, 2003 through November 30, 2003. WHEREAS, Wells Fargo is working to finalize the application and agreement for letter of credit so it is consistent with the terms of the Air Service Agreement. WHEREAS, time is of the essence in providing the letter of credit to American Airlines and the Board of County Commissioners is not meeting on June 10, 2003. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE; STATE OF COLORADO: THAT the Chairman of the Board of County Commissioners is hereby authorized to execute on behalf of Eagle County and its Board of County Commissioners the application and agreement with Wells Fargo Bank for the issuance of the letter of credit in the amount of $200,000 as required by the Air Service Agreement. MOVED, READ AND ADOPTED by the Board of County Commissio ers of the County of Eagle, State of Colorado, at its regular meeting held thi~day o 2003. • • ~.GL~ 4 ~! ~, a~ ~i ~ ~ ~ ~* _ o A Clerk of the Board of Commissioners COUNTY OF EAGLE, STATE OF COLORADO By and Throug~ its Board of County By: --- Arn M.1Vrenconi, Commissioner By: To C. Stone, Co 'ssioner Commissioner 'l~~~o> seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner'Michael L. Gallagher ~~ CommissionerArn M. Menconi Commissioner Tom C. Stone This Resolution passed by~~//i'A~r7rs .. vote of the Board of County Commissioners of the County of Bagle, State of Colorado.