HomeMy WebLinkAboutR96-140 Draw on The SpringsCommissioner moved adoption
of the following solution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 96-1' 7[ /
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.
5800583 IN THE AMOUNT OF $19,992.72 FOR THE
ACCOUNT OF THE SPRINGS, L.L.C. DRAWN ON
NORWEST BANKS
WHEREAS, on or about May 2, 1995, pursuant to C.R.S. 30-28-
137, the County entered into a Subdivision Improvements Agreement
(hereinafter "SIA") with Vail/Arrowhead, Inc. as a condition of the
County's final plat approval of Arrowhead at Vail, Filing 19; and
WHEREAS, Vail/Arrowhead, Inc. provided collateral in the form
of an Irrevocable Letter of Credit No. 5800583 in the amount of
$19,992.72 to guarantee the faithful completion of the public
improvements; and
WHEREAS, said Letter of Credit will expire on November 2,
1996; and
WHEREAS, the Board finds, determines and declares that there
has been a default under the SIA and that a sum certain of
$19,992.72 is required to remedy the default.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLOR~.DO:
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. 5800583, in the amount of $19,992.72 issued by
Norwest Banks.
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. 5800583 in the amount of $19,992.72 issued by
Norwest Banks.
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 day of ~ ,~ 1996.
ATTEST : ~~~F
.';Y yw ~~XC ~~
F{~~
f , ~°,'.~
`~;.~~.~
e to the and of
County Commissioners
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
y ~ ~~G~~/~- T/'r~4%C~6
GeorgepA. Gates
Chairman
.i ~
hnnette Phillips
Commissioner
Commissioner ~/U:~~~LILp seconded adoption of the
foregoing resolution. The roll having been called, the vote was as
follows:
Commissioner George A. Gates /,ui~,(
Commissioner Johnnette Phillips - Q~,~~
Commissioner James E. Johnson, Jr.
This Resolution passed by ~ --~ vote of the Board of
County Commissioners of the County of Eagle, State of Colorado. "