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R89-067 draw on collateral for Ladybelle View Subdivision"j Commissioner VQCA CJA moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 89- (p AUTHORIZING THE DRAWING OF COLLATERAL FOR LADYBELLE VIEW SUBDIVISION, AND APPOINTING ATTORNEYS IN FACT RELATIVE THERETO WHEREAS, on or about October 12, 1987, the Board of County Commissioners of the County of Eagle, State of Colorado (hereinafter "the Board "), entered into a Subdivision Improvements Agreement with James L. (Roy) Mosher (hereinafter "Subdivider ") relative to the LadyBelle View Subdivision; and WHEREAS, pursuant to the terms of said Subdivision Improvements Agreement, collateral was provided to the Board by the Subdivider to guarantee faithful completion of certain off -site road improvements, said collateral provided in the form of a Letter of Credit in the amount of $25,000.00; and WHEREAS, on or about February 14, 1989, the Board and Subdivider amended the Subdivision Improvements Agreement to extend the date for completion of the public improvements to and including June 20, 1989; and WHEREAS, in accordance with the extension the Letter of Credit was extended by Alpine Bank of Eagle to expire on July 1, 1989; and WHEREAS, the Subdivider was given formal notice of the imminent expiration of Letter of Credit No. 27 by a letter dated May 30, 1989, from the Eagle Count, Attorney; 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 used for the purposes specified in the Subdivision Improvements Agreement. NOW, THEREFORE, 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 aforementioned Irrevocable Letter of Credit No. 27 in the amount of $25,000.00. THAT, Kevin Lindahl, Acting Eagle County Attorney, and /or Thomas Bigler, Assistant Eagle County Attorney, are each 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 an all documents reasonably incidental to drawing upon the subject Letter of Credit. THAT, the Chairman of the Board is authorized to execute Powers 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 �o�f Eagle, Sta of Colorado, at its regular meeting held the tl day of iLc �ti2 19?9. COUNTY OF EAGLE, STATE OF COLORADO and Through Its BOARD COUNT COMMISSIONERS B Ric ar Gk to s� Chairm / Q �� U Dona H, Welch Commissioner Geo e A.' G ry Commissioner Commissioner (10-7--e-t5 seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner Richard L. Gustafson �= Commissioner Donald H. Welch 44Z'--- Commissioner George A. Gates —"�� This Resolution passed by U"A)J /lw o vote of the Board of County Commissioners of the County of Eagle, State of Colorado. POWER OF ATTORNEY KNOW ALL ME BY THESE PRESENTS: That the County of Eagle, State of Colorado, a body politic and corporate, reposing special trust and confidence in Kevin Lindahl and Thomas Bigler, of the County of Eagle, State of Colorado, has made, constituted and appointed, and by these presents do make, coils titute.and appoint the said Kevin Lindahl and Thomas Bigler, the true and lawful attorneys for the County of Eagle; and in its name, place and stead, for its sole use and benefit to draw upon Irrevocable Letter of Credit No. 27, dated February 1, 1989 of Alpine Bank, Eagle, Colorado in the amount of U.S. $25,000.00 and to execute, make endorse, and accept any documents necessary to accomplish the foregoing purpose. Hereby giving and granting unto Kevin Lindahl and Thomas Bigler, said attorneys, full power and authority to do and perform all and every act and thing whatsoever requisite and necessary to be done in and about the premises, as fully to all intents and purposes as it might or could do if personally present, with full power of substitution and revocation, hereby ratifying and confirming all that its said attorney or his substitutes shall lawfully do or cause to be done by virtue hereof. IN WITNESS WHEREOF, the County of Eagle has caused its name to be signed by its Chairman of the Board. of County Commissioners, and its seal to be affixed an attested by its Clerk, all being done in the Town of _e,,�,� State of Colorado, on this day of _ Qlv "`77ii� , 1989: vv uu�.y l.�nuu11bb 1V11CL5 (Affix Seal) STATE; OF COLORADO 1 ) ss Ccmnty of Eagle. ) In COUNTY OF EAGLE, ST(iTE OF COLORADO.-By and Through Its BOARD/,OF COUNTY COMMISSIONERS Chairma Address P.O. Bc Eagle, CO 81631 Telephone: (303) 8 -7311 I , _I ' ICJ rU I V�JI , Notary Public in and' for said Eagle County, in the 81tate aforesaid, do hereby certify that Richard L. Gustafson, Chairman of the Board of County Commissioners of the County of Eagle, State of Colorado, and Johnnette Phillips, County Clerk and Clerk to the Board of County Commissioners, County of Eagle, State of Colorado, personally known to me to be the persons whose names are subscribed to within the Power of Attorney, appeared before me this day in person and acknowledged that they signed, sealed and delivered the said instrument of writing as their free and voluntary act and deed, for the uses and purposes therein set forth. Given under my hand and notary seal, this d b+' _ day of ZZ urtP_ , 1989. — My commission expires _ q f (11 qa. VVJ _ Notary Pub is P k