HomeMy WebLinkAboutR96-139 Draw on Cordillera Valley Club Filing 3Commissioner moved adoption
of the following esolution:
BOARD OF COUNTY CONIl~IISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 96-1~~
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.
937-0315 LC#5 IN THE AMOUNT OF $63,463.40 FOR
THE ACCOUNT OF CORDILLERA VALLEY CLUB "
INVESTORS LIMITED PARTNERSHIP DRAWN ON FIRST
BANK OF AVON
WHEREAS, on or about October 12, 1995, pursuant to C.R.S. 30-
28-137, the County entered into a Subdivision Improvements
Agreement (hereinafter "SIA") with Cordillera Valley Club Investors
Limited Partnership as a condition of the County's final plat
approval of Filing No. 3; and
WHEREAS, Cordillera Valley Club provided collateral in the
form of an Irrevocable Letter of Credit No. 937-0315 LC#5 in the
amount of $63,463.40 to guarantee the faithful completion of the
public improvements; and
WHEREAS, said Letter of Credit will expire on November 1,
1996; and
WHEREAS, the Board finds, determines and declares that there
has been a default under the SIA and that a sum certain of
$63,463.40 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. 937-0315 LC#5, in the amount of $63,463.40
issued by First 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
Letter of Credit No. 937-0315 LC#5 in the amount of $63,463.40
issued by First Bank of Avon.
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 ~6~~~~ 1996.
~~. "'~~ COUNTY OF EAGLE, STATE OF
~ '~ ~~`~,~'~ COLORADO , By and Through I t s
ATTEST: ~# ~,~.~t~~ ~ OARD OF COUNTY COMMISSIONERS
~~,~~
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By:
Clerk to the oard of Georg Gates
County Commissioners Chairman
J hnnette Phillips
Commissioner
Commissioner ~ seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner George A. Gates (',~,P
Commissioner Johnnette Phillips ~~
Commissioner James E. Johnson, Jr. ~~
This Resolution passed by. (~ - ~ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.