HomeMy WebLinkAboutR96-033 draw on Warner DevelopmentsCommissioner ~~~_ moved adoption
of the following Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 96-~~
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.
9116036 IN THE AMOUNT OF $47,000.00 FOR THE
ACCOUNT OF WARNER DEVELOPMENTS, INC. DRAWN ON
1ST BANK OF AVON
WHEREAS, on or about August 4, 1981, pursuant to C.R.S. 30-28-
137, the Board of County Commissioners of the County of Eagle,
State of Colorado ("Board"), entered into a Subdivision Improve-
ments Agreement ("Agreement") with Homestead Ranch Development
Corp. (hereinafter "Subdivider") as a condition of final plat
approval of The Homestead, Filing No. 1, Subdivision; and
WHEREAS, Subdivider provided collateral in the form of an
Irrevocable Letter of Credit No. 9116036 in the amount of
$47,000.00 to guarantee the faithful completion of the public
improvements; and
WHEREAS, said Letter of Credit will expire on April 19, 1996;
and
WHEREAS, the Board finds, determines and declares that there
has been a default under the SIA and that a sum certain of $47,000
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, 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 No. 9116036, in the amount of $47,000.00 issued by
lst Bank of Avon.
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 No. 9116036 in the amount of $47,000.00 issued by
lst Bank of Avon.
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 /sue day of 1996.
COUNTY OF EAGLE, STATE OF
~~'~~~ ~~~ COLORADO , By and Through I t s
ATTEST: ~ t~`~ik1~ ~ BOARD OF COUNTY COMMISSIONERS
~F~
" t~ eR'
By:
Clerk to th Board of George A. Gates
County Commissioners Chairman
~~^ ~ ~~
Johnnette Phillips
~ Commissioner
r
James E. ohnson,
Commissioner
Commissioner ~~~~~ seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner George A. Gates
Commissioner Johnnette Phillips
Commissioner James E. Johnson, Jr.
This Resolution passed by a `~ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.