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.