HomeMy WebLinkAboutR96-053 draw on Eby Creek Mesa Limited Partnership
Comm~issioner moved adoption
of the following Resolution:
BOARD OF COUNTY CONIl~IISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 96-s~
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.
50 IN THE AMOUNT OF $198,427.20 FOR THE
ACCOUNT OF EBY CREEK MESA LIMITED PARTNERSHIP
DRAWN ON ALPINE BANK, EAGLE, COLORADO
WHEREAS, on or about May 16, 1995, pursuant to C.R.S. 30-28-
137, the County entered into a Subdivision Improvements Agreement
(hereinafter "SIA") with Eby Creek Mesa Limited Partnership
(hereinafter Subdivider) as a condition of the County's final plat
approval of Eby Creek Subdivision, Phase III; and
WHEREAS, Subdivider provided collateral in the form of an
Irrevocable Letter of Credit No. 50 in the amount of $198,427.20 to
guarantee the faithful completion of the public improvements; and
WHEREAS, said Letter of Credit will expire on May 16, 1996;
and
WHEREAS, the Board finds, determines and declares that there
has been a default under the SIA and that a sum certain of
$198,427.20 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. 50, in the amount of $198,427.20 issued by
Alpine Bank, Eagle, 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. 50 in the amount of $198,427.20 issued by
Alpine Bank, Eagle, 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.
'~" v COUNTY OF EAGLE, STATE OF
f p' ~~Y ~ COLORADO , By and Through I t s
ATTEST: ,'~;;;;'.~"~ ~' BOARD OF COUNTY COMMISSIONERS
~ ~~~
~~,
~-
By:
C erk to the oard of George Gates
County Commissioners Chairman
Johnnette Phillips
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 3 ~d vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.