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R89-134 draw on collateral for ColorowY ro Commissioner / A � �?� moved adoption of the following Resolution: BOARD OF COUNTY COMMISSIONERS COUNTY OF EAGLE, STATE OF COLORADO RESOLUTION NO. 89- AUTHORIZING THE DRAWING ON LETTER OF CREDIT AND APPOINTING ATTORNEYS -IN -FACT RELATIVE THERETO WHEREAS, pursuant to §30 -28 -137, C.R.S., the Board of County Commissioners of the County of Eagle, State of Colorado �("the Board ") , on or- about April 18, 1988, entered into a Subdivision Improvements Agreement ( "Agreement ") with Harlan A. Eckhardt; Robert Barker and Karin Barker; Carl Berman and Ann Berman; Philip R. Conners; Leslie S. Shapiro and Maureen Shapiro; Marlan E. Gamber and Victoria A. Gamber; Steven Roosa; Vail National Bank; Gerald Rea; Howard E. Katzman and Shirley Katzman; and Peter Schlesinger on behalf of the Kimon Company ( "Subdividers ") as a condition for final plat approval for Colorow Subdivision; and WHEREAS; in order to guarantee the faithful completion of certain public improvements required under the Agreement, the Subdividers agreed to provide the Board with an Irrevocable Letter of Credit or to deposit a cash sum with the County, as required by the terms of said Agreement; and WHEREAS, the Letter of Credit No. 0073/GO1055 issued by Toronto Dominion Bank of Ontario, Canada, for the benefit of Peter Schlesinger for the Kimon Company as collateral for Lots 5 and 6, Colorow Subdivision, pursuant to the Agreement, is due to expire December 31, 1989. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO: 1. That Eagle County, in order to assure the completion of the improvements required by the Agreement, shall draw upon said Letter of Credit No. 0073/GO1055, in the amount of $9,047.10, plus the costs incurred thereby, unless an extension or a new letter of credit is provided the Board by December 27, 1989. 2. That Kevin Lindahl, Eagle County Attorney; and Thomas Bigler, Assistant Eagle County Attorney; are hereby appointed attorneys -in -fact for the purpose of drawing on Letter of Credit 0073/GO1055; and each is authorized to make, do and perform all acts and things as set forth in the form attached hereto as Exhibit A. 3. That the Board finds, determines and declares that this Resolution is necessary for the public health, safety and welfare of the citizens of the County of Eagle, State of Colorado. MOVED, READ AND ADOPTED by the Board of County Commissioners of the County of Eagle, State of Colorado, at its regular meeting held the �C I day of December, 1989. COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD F C LINTY COMMISSIONERS C.¢X,t airman .Donald H. Welch, Commissioner George . Gates, Commissioner Commissioner a seconded adoption of the foregoing resolution. The roll having been called, the vote was as follows: Commissioner George A. Gates Commissioner Donald H. Welch Commissioner Richard L. Gustafson ¢fir L T This Resolution passed by vote of the Board of County Commissioners of the County of Eagle, State of Colorado. File 87 -148 of -2- County Commissioners POWER OF ATTORNEY KNOW ALL MEN 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 does make, constitute and appoint the said Kevin Lindahl and /or Thomas Bigler the true and lawful attorney 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. 0073/GO1055 issued by Toronto Dominion Bank of Ontario, Canada, for the account of Peter Schlesinger for Lots 5 5 6, Colorow Subdivision, and to execute, make, endorse, and accept any documents necessary to accomplish the foregoing purpose. Said draft shall be in the amount of $9,047.10, plus the costs incurred in drawing on said letter of credit. Hereby giving and granting unto Kevin Lindahl and /or Thomas Bigler, said attorney, 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 full 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 and attested by its Clerk, all being done in the Town of Eagle, and State of Colorado, on this day of December, 1989. ATTEST: COUNTY OF EAGLE, STATE OF COLORADO, By and Through Its BOARD OF COUNTY COMMISSIONERS By: Clerk of the Board of County Commissioners STATE OF COLORADO ) ss County of Eagle ) By: Richard L. Gustafson, Chairman 1, Notary Public in and for said Eagle County, in the State 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 the within 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 day of December, 1989. My com.nission expires Notary � :1