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HomeMy WebLinkAboutR15-025 Sonnenalp Properties, Inc. Release of Letter of Credit Commissioner 0/1 moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 2015- 6Z5 RESOLUTION APPROVING THE RELEASE OF THE LETTER OF CREDIT (NO. 4450498033) FOR SONNENALP PROPERTIES, INC. FOR CONSTRUCTION IN THE PUBLIC WAY PERMIT NO. 8617 WHEREAS, on or about May 23, 2013, the Board of County Commissioners of the County of Eagle, State of Colorado ("Board") granted Public Way Permit No. 8617 to Sonnenalp Properties, Inc. (Subdivider); and WHEREAS, the Subdivider provided collateral in the form of Letter of Credit No. 4450498033 issued by Alpine Bank in the amount of$2,000.00 to guarantee the faithful completion of the construction project; and WHEREAS, both the Subdivider and the Engineering Department state that the work required under the Public Way Permit is satisfactory and the Engineering Department recommends full release of the collateral (Exhibit "A"); and WHEREAS, the release of Letter of Credit No. 4450498033 requires termination by written Resolution of the Board of County Commissioners. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: THAT, the Board hereby authorizes the full and final release of the collateral and Letter of Credit No. 4450498033 be terminated and that the same be returned to the Subdivider. //remainder of page intentionally left blank// MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the 14 day of 1r2.A ti , 2015. Fez COUNTY OF EAGLE, STATE OF of COLORADO, By and Through Its ATTEST: r1 'i ! r. BOARD OF COUNTY COMMISSIONERS cbtostm° V' B 4 y: 11(..4..41— 3. 5t ►M By: 1/ Z. III 2.. ' �(.41A Clerk to the Board of Kath c handler-Henry County Commissioners Chairman . .., , • vii By: int) nne McQueen y ommissione By: J. tan H. Ryan Commissioner Commissioner 'll42.e.-4 seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Chandler-Henry AAA N Commissioner McQueeney „Q—g Commissioner Ryan �, u -5 / This Resolution passed by / vote of the Board of County Commissioners of the County of Eagle, State of Colorado. MEMORANDUM RECEIVED EAGLE COUNTY ENGINEERING APR 2015 TO: Deborah Churchill, Attorney's Office EAGLE COUNTS I�ORNEY FROM: Mike Horvath, Engineering DATE: January 28, 2015 RE: Collateral Release, Alpine Bank, Letter of Credit No. 4450498033 In the amount of$2,000.00 Construction in the Public Way Permit No. 8617 Sonnenalp Properties, Inc. Inspection was made January 28, 2015 of the work performed under Construction in the Public Way Permit #8617, at the Mesquite & Winslow Road intersection, Singletree Subdivision, Edwards, CO. The work is satisfactory and has successfully completed the two year warranty period under the requirements of the permit. Release of the Letter of Credit as collateral is recommended. # # # • MOW