HomeMy WebLinkAboutR96-042 draw on The SpringsCommissioner ~~,~~j~p 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.
5800583 IN THE AMOUNT OF $165,727.15 FOR THE
ACCOUNT OF THE SPRINGS, L.L.C. DRAWN ON
NORWEST BANK COLORADO
WHEREAS, on or about May 2, 1995, pursuant to C.R.S. 30-28-
137, the County entered into a Subdivision Improvements Agreement
(hereinafter "SIA") with Vail/Arrowhead, Inc. as a condition of
final plat approval of Arrowhead at Vail, Filing 19; and
WHEREAS, Vail/Arrowhead, Inc. provided collateral in the form
of an Irrevocable Letter of Credit No. 5800583 in the amount of
$167,727.15 to guarantee the faithful completion of the public
improvements; and
WHEREAS, pursuant to a Consent to Assignment and Assumption of
Certain Obligations executed May 2, 1995, the SIA was assigned to
The Springs, LLC; and
WHEREAS, said Letter of Credit will expire on May 2, 1996; and
WHEREAS, the Board finds, determines and declares that there
has been a default under the SIA and that a sum certain of
$165,727.15 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. 5800583, in the amount of $165,727.15 issued
by Norwest Bank Colorado.
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. S800583 in the amount of $165,727.15.00 issued
by Norwest Bank Colorado.
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 1996.
ATTEST:
Clerk to the Board of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By: ,
Georg Gates
Chairman
Johnnette Phillips
Commissioner
James E. Johnson, Jr.
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 o~ -~ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
v
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS: That the County of Eagle,
State of Colorado, a body politic and corporate, reposing special
trust and confidence in James R. Fritze, Mary Joan Berenato, Robert
W. Loeffler and Maureen Amundson, of the County of Eagle, State of
Colorado, has made, constituted and appointed, and by these
presents does make, constitute and appoint the said James R. Fritze
and/or Mary Joan Berenato and/or Robert W. Loeffler and/or Maureen
Amundson, and each of them, the true and lawful attorney for the
County of Eagle; and in its name, place and stead, for its sole use
and benefit, to draw upon Irrevocable Letter of Credit No. S800583
in the amount of $165,727.15 for the account of The Springs, L.L.C.
issued by Norwest Bank Colorado, and to execute, make, endorse, and
accept any documents necessary to accomplish the foregoing purpose.
Hereby giving and granting unto James R. Fritze, and/or Mary
Joan Berenato, and/or Robert W. Loeffler, and/or Maureen Amundson,
said attorneys, full power and authority to do and perform all and
every act and thing whatsoever requisite and necessary to be done
in and about the premises, as fully to all intents and purposes as
it might or could do if personally present, with full power of
substitution and revocation, hereby ratifying and confirming all
that its said attorney or his substitutes shall lawfully do or
cause to be done by virtue hereof.
IN WITNESS WHEREOF, the County of Eagle has caused its name to
be signed by its Chairman of the Board of County Commissioners, and
its seal to be affixed and attested by its Clerk, all being done in
the Town of Eagle, and State of Colorado, on this day of
~ ,~~ 1996.
~,~ ~.~~~ COUNTY OF EAGLE, STATE OF
~ ~~,~ COLORADO, By and Through Its
ATTEST: ';~a;;~ ~ ~ BOARD OF COUNTY COMMISSIONERS
~ ~ ~
t~ ~ ~~~
By: By;
C erk of the oard of Georg A. Gates
County Commissioners Chairman
STATE OF COLORADO )
) ss
County of Eagle )
I, ~~ ~.~r ~.~ - - ~F Notary Public in and for said Eagle
Coun y, in~the State aforesaid, do hereby certify that George A.
Gates, Cha rman of the Board of County Commissioners of the County
of Eagle, State of Colorado, and Sara J. Fisher, County Clerk and
Clerk to the Board of County Commissioners, County of Eagle, State
of Colorado, personally known to me to be the persons whose names
are subscribed to the within Power of Attorney, appeared before me
this day in person and acknowledged that they signed, sealed and
delivered the said instrument of writing as their free and
voluntary act and deed, for the uses and purposes therein set
forth.
~~~
~^Given under my hand and notary seal, this ~~ day of
' 1996.
~• C ~ ,
My commission expires. ~i~.f~ - X- ,-„!( ~ ~~' .
~ ~,
``-~1 ~~
n'~ J.Z.o
Notary Publi
forms\draw.poa
File 82-236 Filing 19