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HomeMy WebLinkAboutR04-109 Miller Ranch Tract D Development New Loan Documents • Commissioner I C 1 moved adoption of the following resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2004- it 6 1 RESOLUTION AUTHORIZING EAGLE COUNTY COMMISSIONER MICHAEL L. GALLAGHER OR EAGLE COUNTY COMMISSIONER ARN M. MENCONI TO EXECUTE ALL DOCUMENTS NECESSARY TO EFFECTUATE A NEW LOAN BETWEEN BERRY CREEK LIMITED LIABILITY COMPANY AND RBC CENTURA BANK, A NORTH CAROLINA BANKING CORPORATION IN CONNECTION WITH THE DEVELOPMENT OF REAL PROPERTY LOCATED ON TRACT D, MILLER RANCH, EAGLE COUNTY, COLORADO. WHEREAS, Eagle County, Colorado ( "County ") is a political subdivision of the State of Colorado ( "State "), duly organized and existing pursuant to the laws and the Constitution of the State; and WHEREAS, Berry Creek Limited Liability Company ( "Berry Creek ") is a Colorado Limited Liability Company; and WHEREAS, the County owns a portion of Tract D, Berry Creek/Miller Ranch Planned Unit Development, Eagle County, Colorado (hereinafter the "Property "). Berry Creek is the developer of the Property pursuant to the terms of a Development Agreement dated March 12, 2002 and a Land Lease and Option Agreement dated August 20, 2002 which shall collectively be referred to as the "Agreements "; and WHEREAS, pursuant to the Agreements, Berry Creek is to maintain financing for the development of the Property; and WHEREAS, Berry Creek has indicated its desire to refinance the existing loan between Berry Creek and Wells Fargo Bank and instead obtain project financing through RBC Centura Bank, a North Carolina banking corporation; and WHEREAS, RBC Centura Bank requires the signature of the Board of County Commissioners on a deed of trust to complete the refinancing. • • NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, all documents associated with the new loan between Berry Creek and RBC Centura Bank shall be subject to review and approval by the County Attorney. THAT, the Board of County Commissioners hereby authorizes Commissioner Michael L. Gallagher or Commissioner Arn M. Menconi to execute on its behalf any and all necessary documents, instruments, papers or other forms necessary for the consummation of a loan between Berry Creek and RBC Centura Bank. Such documents may include, but shall not be limited to, a deed of trust as well as any other necessary documents which are required or desirable. THEREFORE, the Board of County Commissioners finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of the County of Eagle, State of Colorado. MOVED, READ AND ADOPTED by the Board of County Commis inners of the County of Eagle, State of Colorado, at its regular meeting held this ;?"day of 2004. COUNTY OF EAGLE, STATE OF COLORADO fatz c By and Through its Board of County 0 , c Commissioners A T t o By: 4110" l ' . • RN- T om C 11 — Clerk of the Bo. d of County Commissioners By: `iAM _ Ar � . Gallagy, 1 om u • . - • o ner By: . Menconi, Commissioner Commissioner c) ? 1 seconded adoption of the foregoing resolution. The roll g havin been called , the vot�as follows: • I Commissioner Tom C. Stone C Commissioner Michael L. Gallagher c2 y Commissioner Arn M. Menconi ) This Resolution passed by ( vote of the Board of County Commissioners of the County of Eagle, State of Colorado. G:\Pauline\Miller Ranch\Resolution.DOC