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HomeMy WebLinkAboutR97-070 Final Release of Collateral East West Inter Connect Water MainI 111111 lli�, lllll IIII IIII IIIIIIII IIIII III IIIII IIII i�� hut 628653 06/17/1997 05:26P 8729 P692 1 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO Commissioner 02DO-:�-t moved adoption of the following Re lution: BOARD OF COUNTY COMMISSIONERS w} COUNTY OF EAGLE, STATE OF COLORADO t{ J Lf RESOLUTION NO. 97-- 7-1_L— FINAL RELEASE OF COLLATERAL AND TERMINATION OF THE WARRANTY PERIOD FOR THE EAST WEST INTER- CONNECT WATER MAIN WHEREAS, on August 30, 1993, the County entered into a Construction Improvements Agreement (hereinafter "CIA ") with Stag Gulch Partners, a Colorado General Partnership (hereinafter known as "Owner "), as a condition of the County's approval for a permit to construct a major new domestic water system to serve the Cordillera Development; and WHEREAS, the Owner provided collateral in the form of a check in the amount of $35,9000.0'0 to guarantee the faithful completion of certain public improvements; and WHEREAS, by Eagle County Resolution No. 95 -75 the warranty period was commenced for which the Owner provided collateral in the form of a check in the amount of $3,590.00 on deposit with the Eagle County Treasurer's Office held for the duration of the warranty period; and WHEREAS, both the Owner and the Engineering Department state that the work is complete and acceptable and the Engineering Department recommends full release of the collateral and the termination of the warranty period, see Exhibit "A ", attached hereto and incorporated herein by this reference. Based upon the oral and written recommendations of the County staff, THE BOARD FINDS that the Owner's obligations under the Agreement have been satisfied. y :s �7 tia � � "Ili �iiil lilll� ilii I�'I'llll'll ill�l III ,Pp' Ilil liil ec6653 06/17/1997 05:26P 8729 P692 2 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO 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 collateral and the termination of the warranty period for the East West Inter - Connect Water Main. THAT, the Eagle County Treasurer's Office is hereby directed to issue a warrant to Stag Gulch Partners in the amount of $3,590.00. THAT, this document shall be recorded in the Records of the Eagle County Clerk and Recorder, which shall be evidence that the Agreement has been terminated. 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, 1997. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its ATTEST: BOARD OF COUNTY COMMISSIONERS dnn C °COA per° J%t By: ZI Cler to th Board of ?hairman te Phillips, County Commissioners �4 W4_R-0 P 6 ames E. Joh on, Jr., 3 0{ eF , agle, CO Commissioner :7 =I .l George A. Gates, Commissioner �l Commissioner 1017—I'M" A seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Johnnette Phillips rJit2 Commissioner James E. Johnson, Jr. C,y� Commissioner George A. Gates This Resolution passed by —(7 vote of the Board of County Commissioners of the County of Eagle, State of Colorado. �� i �i!!'''i,� �i'o�i 1111111 11111 1111111111 II1I 11111111 11111 111 IIII' III 626663 06/17/1997 05:26P B729 P692 3 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO n MEMORANDUM EAGLE COUNTY ENGINEERING TO: Maureen Amundson, Attorney's Office FROM: John Althoff, Engineering �C�t DATE: May 22,1997 CJ RE: East West Interconnect Water Main for Stag Gulch Went to review the East -West water line today and would suggest releasing the collateral held ($3,590.00) and closing out this SIA. xc: George Roussos Chrono /file :s 11111 111111 IN IIII 1111111111111 III 11111 II11 II11 C 3 625633 06/17/1997 05:26P B729 P692 4 of 4 R 0.00 D 0.00 Sara J Fisher, Eagle, CO