HomeMy WebLinkAboutR99-103 Draw on vail arrowhead filing 3I
Commissioner L am_ moved adoption
of the following Reso ution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 99 -102
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. 6289 IN THE
AMOUNT OF $1,485,927.00 FOR THE ACCOUNT OF
VAIL \ARROWHEAD DRAWN ON US 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 Vail/Arrowhead, a Colorado Limited Partnership, ( "Subdivider "),
as a condition of final plat approval for Filing 3; 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 $1,485,927.00 will expire on June 14,
1999; and
WHEREAS, the Board finds, determines and declares that there has been a default under
the SIA and that a sum certain of $1,485,927.00 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. 6289 in
the amount of $1,485,927.00 issued by US 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. 6289 in the amount of $1,485,927.00.
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 June, 1999.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: � , `rl, BOARD OF COUNTY COMMISSIONERS
�Uz�AD
f
By:
Clerk to the Boar of ohnnette Phillips
County Commissioners Chairman
Tom C. Stone
Commissioner
es E. Johnson, J .
ommissioner
Commissioner seconded adoption of the foregoing resolution. The roll having been
called, the vote was as follows:
Commissioner Johnnette Phillips 064A
Commissioner Tom C. Stone
Commissioner James E. Johnson, Jr.
This Resolution passed by chi -0 vote of the Board of County Commissioners of the County of
Eagle, State of Colorado.
File No.
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 James R. Fritze,
Robert W. Loeffler, Renee Allee Black, and Kathy Walter, of the County of Eagle, State of
Colorado, has made, constituted and appointed, and by these presents does make, constitute and
appoint the said James R. Fritze and /or Robert W. Loeffler and /or Renee Allee Black and/or
Kathy Walter, 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 Irrevocable Letter of Credit No.
6289 in the amount of $1,485,927.00 for the account of Vail/Arrowhead issued by US Banks, and
to execute, make, endorse, and accept any documents necessary to accomplish the foregoing
purpose.
Hereby giving and granting unto James R. Fritze, and /or Robert W. Loeffler, and /or Renee
Allee Black and /or Kathy Walter, 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 Z_46(A.� day of
June, 1999.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By: iuG�uC 4 >�
ohnnette Phillips
Chairman
y
STATE OF COLORADO )
ss
County of Eagle )
I, , Notary Public in and for said Eagle County, in the State aforesaid, do
hereby certify that 7ohnnette Phillips, Chairman of the Board of County Commissioners of the
County of Eagle, State of Colorado, and Sara I Fisher, 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 1999.
My commission expires
Notary Public
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