HomeMy WebLinkAboutR93-105 release of collateral for Old Edwards Estates VIIIC"i
Commissione � _ moved adoption
of the follow g Resolution:
BOARD OF COUNTY COMMISSIONERS
COUNTY OF EAGLE, STATE OF COLORADO
RESOLUTION NO. 93- _
AUTHORIZING THE RELEASE OF COLLATERAL
OLD EDWARDS ESTATES VIII
WHEREAS, on or about May 9, 1991, the Board of County
Commissioners of the County of Eagle, State of`Colorado ( "Board ")
entered into a Subdivision Improvements Agreement ( "Agreement ")
(recorded May 15, 1991 at Book 554, Page 059) with D.J. Organ
Builders, Inc., D.J. Organ, individually and Karl Reuther ( "Subdi-
vider"); and
WHEREAS, by Resolution #91 -83 dated November 12, 1991,
the Board accepted Letter of Credit Number 148, issued by the First
Bank of Eagle County, in the amount of $3,150.00, subsequently
renewed into Letter of Credit No. 148 -A, as collateral for the two -
year warranty period; and
. WHEREAS, the Subdivider has represented to the Board, and
members of the County staff have corroborated the Subdivider's
representations, (attached Exhibit A) that the improvements have
satisfactorily survived the two -year warranty period; and
WHEREAS, the Subdivider has applied for a full release of
its collateral;
BASED UPON the oral and written recommendations of the
Engineering Department, the Board finds that the improvements have
satisfactorily survived the two -year warranty period, and. the full
release of Letter of Credit No. 148A in the amount of $3,150.00 is
appropriate.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY
COMMISSIONERS OF THE COUNTY OF EAGLE, STATE OF COLORADO:
THAT, the Board hereby authorize the full release of said
Letter of Credit No..148A in the amount of $3,150.00,
MOVED, READ AND ADOPTED by the Board of County Commis-
sioners of the County of Eagle, State of Colorado, this
day of September, 1993
COUNTY OF EAGLE, STATE OF
COLORADO, By and Through Its
BOARD OF COUNTY COMMISSIONERS
B Y: d r gg i r
George -A. Gates, Chairman
r
Commissioner Ll_ seconded adoption of the
foregoing resol tion. Th9 roll having been called, the vote was as
follows:
Commissioner; { 9 George A. Gates o ze
Commissioner Johnnette Phillip
Commissonerr' - James E. Johnson, Jr. _
This Resolution passed by
county commissioners of the County of Eagle,
r \edwards.ful -182 -256
vote of the Board of
State of Colorado.
:!=
County Commissioners