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R89-074 partial release of collateral for Summit VistaCommissioner -- moved adoption j of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 89 --�4 SUMMIT VISTA PARTIAL RELEASE OF COLLATERAL WHEREAS, pursuant to Section 30 -28 -237 C.R.S., the Board of County Commissioners of the County of Eagle, State of Colorado ( "Board ") did, on or about March 28, 1989, enter into a Subdivision Improvements Agreement ( "Agreement ") with Meldor Partnership ( "Subdivider "); and WHEREAS, in order to guarantee the faithful completion of certain public improvements required under the Agreement, the Board took as collateral, the Letter of Credit, dated January 13, 1989, in the amount of $10,000, issued by Alpine Bank of Basalt, for the benefit of the Board of County Commissioners, County of Eagle, State of Colorado; and WHEREAS, the subdivider has represented to the Board, and members of the County staff have corroborated the Subdivider's representations, that the public improvements required under the Agreement have been satisfactorily completed; and WHEREAS, Eagle County is authorized to release all but ten Percent of the original collateral for completion of the public improvements required under the Agreement; and WHEREAS, pursuant to Section 4 of the Agreement, the Subdivider has applied for partial release of its collateral in the amount of $9,604.24, NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO; THAT, based upon the written recommendations of the Department Of Engineering, the Board finds that the Subdivider's obligations under the Agreement have been satisfied and a reduction in the collateral held by the Board is warranted. THAT, the Board hereby authorizes the partial release of collateral issued by Alpine Bank of Basalt in the amount of $9,604.24 for performing obligations under the Agreement. -1- -z- •opaaoToo 3o agags AqunoO 3o paaog aqq 30 agon q g o Aqunoo aqq 3o saauoTSSTwwoO wAq passad uoTgnTosaH szgy l saga0 •v 95aoa0 aauoTSSTwwOO gOTaM •H pTauoa aauOTssTwwoO uos3agsn0 •a paagoTU aauoTssTwwoO :SMOTT03 SP saM a40A aqq 'paTTaO uaaq bUTAP q TTOJ a u •uoignTOs9a 6uTObaaO3 aqq 3o uoTgdopa papuoaas - v [, w r qVY aauoTSSTwwoO aa uoTsszwwo0�0 abaoa0 aaUOTSStwwoO 'HojaM 'H pTauOa :Ag aauoTSSTwwoO AqunoO Ag 40;D : ILS gyS,K p ua A xyNno. •6861 3o hap �h aqg pTaq buTgaaw aaTnbaa sqT qa 'OpaaOTOO 30 a ag 'aTbag 30 d4uno0 aqg go SaaUOTSSTwwoO AqunOO 30 paaog agg Aq a3ydoaK aN'd aKau 'agAOW •OpaaOTOO 30 agagS 'aTbag 30 AqunOD aqg 3o suazTgTO agg 30 aaa3TaM pua A4a3as 'ggTaaq OTTgnd aqq ao3 AaaSSaOaU ST UOTgnTosau STgg gattg SaaaTOap pua sauTwaagap 'spuT3 paaog agg `J, VHLL •quawaaabv aqq aapun suoTgabTTgO buTpuagsgno sgT 3o SOUawao3aad s,aapTnTpgns all-4 buTOao3ua uT paaog aqq 3o sggbTa aqq agaboaga AaM Aua UT you saop Agaaaq paguaab TaaagaTTOO 3O asaaTaa TaTgaad aqg 'IVHI Jog auop xaoM agg ao3 AquaaaaM sa AqunoO 9L'96£$ 90 qunowe aqg ao3 AauOM aqg 30 •aaaA auo 3o poTaad a agg Aq pauTagaa aq TTTM aapuTawaa aqg 'JVHL dyNII00 30 allVoa sqi gbnoagy ' oavuozoO do alvis ' agDva do