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HomeMy WebLinkAboutR96-068 draw on Basalt Trade AssociatesCommissioner moved adoption of th® follow nq Resolut on: BOARD OF COIINTY COMMISSIONERS COIINTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 96- (l (~ 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. S800575 IN THE AMOUNT OF $6,208.00 FOR THE ACCOUNT OF BASALT TRADE ASSOCIATES, LLC DRAWN ON NORWEST BANK COLORADO (DENVER) WHEREAS, on or about July 14, 1992, pursuant to C.R.S. 30-28- 137, the County entered into a Subdivision Improvements Agreement (hereinafter "SIA") with Basalt Trade Associates as a condition of the County's final plat approval of Summit Vista, Lot 1, Sopris View Apartments; and WHEREAS, Basalt Trade Associates provided collateral in the form of an Irrevocable Letter of Credit No. 5800575 in the amount of $6,208.00 to guarantee the faithful completion of the public improvements; and WHEREAS, said Letter of Credit will expire on June 13, 1996; and WHEREAS, the Board finds, determines and declares that there has been a default under the SIA and that a sum certain of $6,208.00 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. S800575, in the amount of $6,208.00 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. 5800575 in the amount of $6,208.00 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 Colorado, at its regular meeting held the /~Z~, day of , 1996. COUNTY OF EAGLE, STATE OF ,~~x.,~ ~ COLORADO, By and Through Its ATTEST: ~`~ ~~ ~~~ BOARD OF COUNTY COMMISSIONERS ~ ~ ~ ~ ~~ ~ r~wu~''~~~' By: • Clerk to t e oard of eorge Gates County Commissioners Chairman ohnnette Phill s Commissioner dames E. Jodi Commissioner Commissioner seconded adoption of the foregoing resoluti The ro 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 --~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado.