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HomeMy WebLinkAboutR96-153 Draw on Eagle II Developers Commissioner ~~~%1a moved adoption of the following Resolution: BOARD OF COUNTY CO1rIl~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. 212 IN THE AMOUNT OF $1,000.00 FOR THE ACCOUNT OF EAGLE II DEVELOPERS, INC. DRAWN ON FIRST BANK OF EAGLE COUNTY WHEREAS, on August 25, 1992 pursuant to C.R.S. 30-28-137, the County entered into a Subdivision Improvements Agreement (hereinaf- ter "SIA") recorded in Book 587 at Page 789 of the records of the Eagle County Clerk and Recorder, with Eagle II Developers, Inc. by William L. Williams, as President (hereinafter known as __ _ "Subdivider"), as a condition of the County's approval of the Final Plat of Moonridge, Phase 2, a Resubdivision of Lot 3, Moonridge; and WHEREAS, the Subdivider provided collateral in the form of a plat restriction to guarantee the faithful completion of the public improvements; and WHEREAS, pursuant to Resolution No. 92-215 the plat restric- tion on the Final Plat of Moonridge, Phase 2, was released and a partial reduction in collateral in the amount of $167,537.40 was approved. Letter of Credit No. 154 from the First Bank of Eagle County in the amount of $68,288.75 was held as collateral for the remainder of the work to be completed was accepted. WHEREAS, by Resolution No. 93-146, collateral was reduced to $23,582.62 to be held for the two-year warranty period and for completion of the drainage work remaining to be done, said warranty period expired on December 6, 1995; and WHEREAS, Consent No. 96-19 authorized the reduction of collateral to $1,000.00 and commencement of the corrective one year warranty period to expire June 11, 1997; and WHEREAS, Subdivider provided collateral in the form of Letter of Credit No. 212 in the amount of $1,000; and WHEREAS, said Letter of Credit No. 212 will expire on December 1, 1996; and WHEREAS, the Board finds, determines and declares that there has been a default under the Subdivision Improvements Agreement and that a sum certain of $1,000.00 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 212, in the amount of $1,000.00 issued by First --_- _ Bank of Eagle County. 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. 212 in the amount of $1,000.00 issued by First Bank of Eagle County. 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. n 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 ~~,. 1996. COUNTY OF EAGLE, STATE OF ~~ ~""~~' .`2,, COLORADO, By and Through Its ,~,,'~ '"" ~ t ATTEST: *~~' ~~,•..°:;~~ ~~ BOARD OF COUNTY COMMISSIONERS ~ ~°~ ~a ~ ~ Clerk to the oard of George Gates County Commissioners Chairman ~dk~~e James E. Johnson, Jr. Commissioner ~f`Johnnette Phillips, Commis Toner Commissioner seconded adoption of the --_. _ foregoing resolution. The roll having been called, the vote was as follows: Commissioner James E. Johnson, Jr. Commissioner George A. Gates Commissioner Johnnette Phillips This Resolution passed by ~ - ~ vote of the Board of County Commissioners of the County of Eagle, State of Colorado.