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HomeMy WebLinkAboutR99-121 draw cordillera filing 30Commissioner meX,�n moved adoption of the following Res9lution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 99-/a/_ RESOLUTION CONFERRING POWER OF ATTORNEY UPON JAMES R. FRITZE, COUNTY ATTORNEY, ROBERT W. LOEFFLER, DEPUTY COUNTY ATTORNEY, AND RENEE ALLEE BLACK, ASSISTANT COUNTY ATTORNEY TO ACT AS ATTORNEY IN FACT FOR THE COUNTY OF EAGLE, STATE OF COLORADO, WITH RESPECT TO LETTER OF CREDIT NO. 10139705 IN THE AMOUNT OF $49,122.72 FOR THE ACCOUNT OF STAG GULCH PARTNERS DRAWN ON NORWEST BANK FOR CORDILLERA FILING 30 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 Stag Gulch Partners, a Colorado General Partnership, ( "Subdivider "), as a condition of final plat approval for Cordillera Filing 30; 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 will expire on July 15, 1999; and WHEREAS, the Board finds, determines and declares that there has been a default under the SIA and that a sum certain of $49,122.72 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, and Renee Allee Black, Assistant County.Attomey, are authorized to execute any and all documents necessary to draw upon irrevocable Letter of Credit No. 10139705 in the amount of $49,122.72 issued by Norwest Bank. THAT, James R. Fritze, County Attorney, Robert W. Loeffler, Deputy County Attorney, and Renee Allee Black, 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. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the /o?CC day of July, 1999. W 0; r, ATTEST: \ —jj 4 Clerk to the Boar of County Commissioners COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS Johnnette Phillips Chairman Tom C. Stone Commissioner_ seconded adoption of the foregoing resolution. The roll haying been called, the vote was as follows: Commissioner Johnnette Phillips !?iA Commissioner Tom C. Stone Commissioner James E. Johnson, Jr. This Resolution passed by (3-0 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. File No.