HomeMy WebLinkAboutR91-088 draw on Soderberg Filing 2j 10-"59 PG 1 OF 2 REC DOC.
46-3969 69 R -567 P -817
JOHNNETTE PHILLIPS ERC j COUNTY CLERK, COLORADO 0.00 0.00
, Commissioner moved adoption
of the following Res ution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 91- 7$
AUTHORIZING THE DRAWING OF COLLATERAL �
for SODERBERG SUBDIVISION, FILING NO. 2,
AND APPOINTING ATTORNEY -IN -FACT RELATIVE THERETO
WHEREAS, on or about November 13, 1989, the Board of County
Commissioners of the County of Eagle, State of Colorado (herein-
after "the Board "), entered into a Subdivision Improvements
Agreement ( "Agreement ") with Jan MacCready and Margie Butler
( "Subdivider ") relative to Soderberg Subdivision, Filing No. 2; and
WHEREAS, the Board presently holds Letters of Credit totaling
$6,389.00, to guarantee the satisfactory completion of a roadway
and landscaping improvements; and
WHEREAS, Irrevocable Letter of Credit No. 72088 -01 issued by
Alpine Bank of Carbondale, for the benefit of Jan MacCready and
Margie Butler, expires November 13, 1991, and the Subdivider has
failed to provide substitute collateral; and
WHEREAS, the Board finds, determines and declares that it is
in the best interest of the County of Eagle that said Letter of
Credit be drawn upon and the funds be deposited by the Eagle County
Treasurer and held as collateral until substitute collateral has
been provided, or until the improvements have survived the warranty
period required by the Agreement.
NOW, THEN, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS
OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Chairman of the Board is authorized to sign a draft
for the purpose of drawing upon the Irrevocable Letter of Credit
No. 72088 -01 in the amount of $6,389.00, dated November 10, 1989,
and issued by Alpine Bank of Carbondale.
THAT, said sum shall be held as collateral which shall be
returned to Subdivider upon the satisfactory completion of said
improvements (including the warranty period), or upon the receipt
of substitute collateral, and less the costs incurred by the County
in drawing on the subject Letter of Credit.
THAT, Kevin Lindahl, Mara M. Kleinschmidt, Mary Joan Berenato
and /or Aili B. Foss, and each of them, 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; to perform all
acts and execute any and all documents reasonably incidental to
drawing upon the subject Letter of Credit.
THAT, the Chairman of the Board is authorized to execute a
Power of Attorney for the purposes contemplated herein.
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 November, 1991.
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
ATTEST: BOARD OF COUNTY COMMISSIONERS
C Board f
County Co/mmisssiio /ners,
Commissioner
foregoing resol
as follows:
<::- \ � )
Don'alU A% Welch, Commissioner
'k J seconded adoption of the
The roll having been called, the vote was
Commissioner Donald H. Welch
Commissioner George A. Gates 112, a
Commissioner Richard L. Gustafson
This Resolution passed by �J�jX�s �, .m. J vote of the Board of
County Commissioners of the County of Eagle, State of Colorado.
90 -02
-2-
46.3969 B -567 A -847 14/26/'91 10:59 PG 2 OF 2
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