HomeMy WebLinkAboutR95-058 draw on KED DevelopmentCommissioner ``` ~; ~' , , , moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 95- _~j,~
RESOLUTION CONFERRING POWER OF ATTORNEY UPON
JAMES R. FRITZE, COUNTY ATTORNEY, MARY JOAN
BERENATO, DEPUTY COUNTY ATTORNEY, ROBERT W.
LOEFFLER, ASSISTANT COUNTY ATTORNEY AND
MAUREEN AMUNDSON, PARALEGAL TO ACT AS ATTORNEY
IN FACT FOR THE COUNTY OF EAGLE, STATE OF
COLORADO, WITH RESPECT TO LETTER OF CREDIT NO.
914-8787 IN THE AMOUNT OF $2,000.00 FOR THE
ACCOUNT OF KED DEVELOPMENT DRAWN ON 1ST BANK
OF VAIL
WHEREAS, on June 1, 1994, the County granted Road Cut Permit
#1903 to Ked Development ("Ked"); and
WHEREAS, Ked provided collateral in the form of a Letter of
Credit to guarantee the faithful completion of the public
improvements; and
WHEREAS, said Letter of Credit #914-8787 in the amount of
$2,000.00 will expire on May 31, 1995.
WHEREAS, the Board finds, determines and declares that it is
in .the best interest of the County that it draw upon the
collateral in the amount of $2,000.00.
WHEREAS, it is presently contemplated an agreement shall be
entered into between Ked and the Board whereby the aforementioned
Road Cut Permit shall be terminated; and
WHEREAS, until such time as said Road Cut Permit is formally
terminated, Ked has agreed to provide an extension of at least
thirty (30) days to the subject Letter of Credit; and
WHEREAS, no such extension to Letter of Credit # 914-8787 has
been received by the Board as yet, and the Board deems it to be in
the best interests of the County of Eagle that the subject Letter
of Credit be drawn upon prior to its expiration.
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, Mary Joan Berenato,
Deputy County Attorney, Robert W. Loeffler, Assistant County
Attorney, and Maureen Amundson, Paralegal, are authorized to
execute any and all documents necessary to draw upon irrevocable
Letter of Credit #914-8787, in the amount of $2,000.00 issued by
lst Bank of Vail.
THAT, James R. Fritze, County Attorney, Mary Joan Berenato,
Deputy County Attorney, Robert W. Loeffler, Assistant County
Attorney and Maureen Amundson, 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 #914-8787 in the amount of $2,000.00 issued by lst
Bank of Vail.
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 `-/~°~~ %,~~, 1995.
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ATTEST: ~~;/~`;'~._~`'`,~,.+ys
~ 1,~'~ ~ i
/~y r
~~ Jf % L~ ~'L C i~..' i //,'G~L'~ ifs-L~.z
Clerk to the Board of ~ //
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
George A. Gates, Commissioner
,.
~ , ~'^"~
;',Johnnette Phillips, Commissioner
Commissioner ~~/~,~i,~~c seconded adoption of the
foregoing res4lu~~ion. The roll having been called, the vote was as
follows:
Commissioner James E. Johnson, Jr. ~'~j`~~
Commissioner George A. Gates ~ ,i, ~:,~
Commissioner Johnnette Phillips ;,,?~.,
This Resolution passed by %/,//,/rte: ~~~.~,~~,' vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
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