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HomeMy WebLinkAboutR99-078 Draw on Kensington PartnersCommissioner moved adoption of the following Resolution: BOARD OF COUNTY COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 99 - 477 RESOLUTION CONFERRING POWER OF ATTORNEY UPON JAMES R. FRITZE, COUNTY ATTORNEY, ROBERT W. LOEFFLER, DEPUTY COUNTY ATTORNEY, RENEE ALLEE BLACK, ASSISTANT COUNTY ATTORNEY AND KATHY WALTER, PARALEGAL TO ACT AS ATTORNEY IN FACT FOR THE COUNTY OF EAGLE, STATE OF COLORADO, WITH RESPECT TO LETTER OF CREDIT NO. 10139703 IN THE AMOUNT OF $101,151.84 FOR THE ACCOUNT OF KENSINGTON PARTNERS DRAWN ON NORWEST BANKS WHEREAS, pursuant to C.R.S. 30- 28 -37, the Board of County Commissioners of the County of Eagle, State of Colorado ('Board ") entered into a Subdivision Improvements Agreement ( "Agreement ") with Kensington Partners, a Colorado Limited Partnership, ( "Subdivider "), as a condition of final plat approval for Cordillera Filing 16; and WHEREAS, the Subdivider provided collateral in the form of a Letter of Credit further identified in the title hereof to guarantee the faithful completion of the public improvements; and WHEREAS, said Letter of Credit in the amount of $101,151.84 will expire on June 10, 1999; and WHEREAS, the Board finds, determines and declares that there has been a default under the SIA and that a sum certain of $101,151.84 is required to remedy the default. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, James R. Fritze, County Attorney, Robert W. Loeffler, Deputy County Attorney, Renee Allee Black, Assistant County Attorney, and Kathy Walter, Paralegal, are authorized to execute any and all documents necessary to draw upon irrevocable Letter of Credit No. 10139703 in the amount of $101,151.84 issued by Nor Banks. THAT, James R. Fritze, County Attorney, Robert W. Loeffler, Deputy County Attorney, Renee Allee Black, Assistant County Attorney and Kathy Walter, Paralegal, 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 Letter of Credit No. 10139703 in the amount of $101,151.84. 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. 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 May, 1999. c`x COUNTY OF EAGLE, STATE OF s` COLORADO, By and Through Its ATTEST:' ! BOARD OF COUNTY COMMISSIONERS By: Clerk to the Board of Johnnette Phillips County Commissioners Chairman q; - I l vv e. Tom C. Stone Commissioner 4 es E. JohnSO r. nissioner Commissions, � seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Johnnette Phillips Commissioner Tom C. Stone Commissioner James E. Johnson, �Jr. This Resolution passed by - -t vote of the Board of County Commissioners of the County of Eagle, State of Colorado. File No.