HomeMy WebLinkAboutR96-095 Draw on MC Joint Venture - Alliance' y e
Commissioner , ~C~~Y~.~c; ~"( moved adoption
of the following Resolution:
BOARD OF COUNTY CONIl~IISSIONERS
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.
938-2135 IN THE AMOUNT OF $158,990.00 FOR THE
ACCOUNT OF MC JOINT VENTURE DBA ALLIANCE JOINT
VENTURE DRAWN ON 1ST BANK OF AVON
WHEREAS, pursuant to C.R.S. 30-28-37, the Board of County
Commissioners of the County of Eagle, State of Colorado ("Board")
entered into a Subdivision Improvements Agreement dated June 25,
1995, ("Agreement") with Stag Gulch Partners ("Subdivider") as a
condition of final plat approval for Bearcat at the Ranch at
Cordillera, Phase II, Cordillera Subdivision, Filing 13; and
WHEREAS, on September 11, 1995 Subdivider entered into an
Agreement with the Board and MC Joint Venture dba Alliance Joint
Venture, as a condition of the Board's approval to permit someone,
other than the Subdivider, to post the collateral required under
the Agreement; and
WHEREAS, MC Joint Venture provided collateral in the form of
a Letter of Credit No. 938-2135 in the amount of $158,990.00 issued
by the 1st Bank of Avon; and
WHEREAS, said Letter of Credit will expire on July 17, 1996;
and
v
WHEREAS, the Board finds, determines and declares that there
has been a default under the SIA and that a sum certain of
$158,990.00 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. 938-2135, in the amount of $158,990.00 issued
by 1st 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
said Letter of Credit.
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 Count of Eagle, State of Colorado, at its regular meeting
held the L'G~L _ day of ~ 1996.
_a .
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tiH^tr~'r
ATTEST: ~~~.~,` ~.."
~ ~ d~
C erk to the Board of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
By:
George Gates
Chairman
`.
Johnnette Phillips, Commissioner
Commissioner Z2,e~~i seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner George A. Gates (~G~i~-~~
Commissioner Johnnette Phillips ~,a~~~~~!,
Commissioner James E. Johnson, Jr. ~ ~.
This Resolution passed by ~~ ~'/~Lf?'In/~.~_ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.