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.