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HomeMy WebLinkAboutR96-143 Draw on Design Concepts Developmenti Commissioner moved adoption of the following R solution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION N0.96-1=1d 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 A,MUNDSON, PARALEGAL TO ACT AS ATTORNEY IN FACT FOR THE COUNTY OF EAGLE, STATE OF COLORADO, WITH RESPECT TO LETTER OF CREDIT N0.959-8723 IN THE AMOUNT OF $267,414.00 FOR THE ACCOUNT OF DESIGN CONCEPTS DEVELOPMENT CORP. DRAWN ON 1ST BANK OF AVON WHEREAS, on or about July 9, 1996, pursuant to C.R.S. 30-28-137, the County entered into a Subdivision Improvements Agreement (hereinafter "SIA") with Design Concepts Development Corp. as a condition of the County's final plat approval of Filing 6, The Sanctuary; and WHEREAS, Design Concepts Development Corp. provided collateral in the form of an Irrevocable Letter of Credit No. 959-8723 in the amount of $267,414.00 to guarantee the faithful completion of the public improvements; and WHEREAS, said Letter of Credit will expire on November 15, 1996; and WHEREAS, the Board finds, determines and declares that there has been a default under the SIA and that a sum certain of $267,414.00 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, aze authorized to execute any and all documents necessary to draw upon irrevocable Letter of Credit No. 959-8723, in the amount of $267,414.00 issued by lst 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. 959-8723 in the amount of $267,414.00 issued by Lst Bank Of Avon. THAT, the Chairman of the Boazd 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 regulaz meeting held the day of November, 1996. ~a, ~~' ~ COUNTY OF EAGLE, STATE OF ~~`~~ ~~~ COLORADO, By and Through Its X" ATTEST: ~ w BOARD OF COUNTY COMMISSIONERS ~' ~~ ~. ~~ ~:- B Y• Clerk to the Boaz of George ates County Commissioners Chairman r ohnnette Phillips Commissioner Commissioner ~ seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates 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. File No. 87-84 Filing 6