Commissioner Clement moved that the following Resolution be adopted:
BEFORE THE BOARD OF COUNTY COMMISSIONERS
OF THE COUNTY OF JEFFERSON
WHEREAS, the Board of County Commissioners did, on January 8, 1990, accept Irrevocable Letter of Credit No. 5084 from the Colorado National Bank-Evergreen in the amount of $80,500.00, with an expiry date of January 21, 1991, to guarantee completion of off-site and channel improvements necessary to serve Hiwan Meadows Townhomes; and
WHEREAS, the Jefferson County Department of Highways and Transportation has indicated, by memo dated December 21, 1990, that $80,500.00 would continue to be necessary for the completion of said improvements necessary to serve said subdivision; and
WHEREAS, the Subdivider has submitted Letter of Credit No. 5321 from the Colorado National Bank-Evergreen dated January 21, 1991, with an expiry date of January 21, 1992, in the amount of $80,500.00; and
WHEREAS, the County Attorney's Office has reviewed said Irrevocable Letter of Credit No. 5321 and has approved the same as to form.
NOW, THEREFORE, BE IT RESOLVED that the Irrevocable Letter of Credit No. 5321 dated January 21, 1991, from the Colorado National Bank-Evergreen with an expiration date of January 21, 1992, be and hereby is accepted.
BE IT FURTHER RESOLVED that said Irrevocable Letter of Credit No. 5321 from the Colorado National Bank-Evergreen be deposited for by the Director of Administrative Services.
BE IT FURTHER RESOLVED that the Director of Administrative Services shall return Letter of Credit No. 5084 dated January 21, 1990, to the developer, Hiwan Service Corporation, c/o William Bennett, at 30671 Clubhouse Lane, Evergreen, Colorado 80439, after January 21, 1991.
, CC91-44
Commissioner Ferdinandsen seconded the adoption of the foregoing Resolution. The roll having been called, the vote was as follows:
Commissioner Marjorie E. Clement AYE
Commissioner Rich Ferdinandsen AYE
Commissioner John P. Stone, Chairman AYE
The Resolution was adopted by unanimous vote of the Board of County Commissioners of the County of Jefferson, State of Colorado.
Dated: January 14, 1991