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 August 14, 1989, accept Irrevocable Letter of Credit No. S42932 from the United Bank of Denver in the amount of $243,804.60 to cover public and landscaping improvements in the Stevinson Automobile Agency Filing No. 2 Subdivision; and
WHEREAS, the Board of County Commissioners did, on September 17, 1990, accept an Amendment to Letter of Credit No. S42932 from the United Bank of Denver in the reduced amount of $20,570.00 with the same expiration date of said Letter of January 31, 1991, with all other terms and conditions remaining unchanged; and
WHEREAS, the Jefferson County Department of Highways and Transportation has indicated, by memo dated December 24, 1990, that $20,570.00 would continue to be necessary for the completion of public improvements within said subdivision; and
WHEREAS, the Subdivider has submitted an Amendment to said Letter of Credit No. S42932 from the United Bank of Denver dated December 19, 1990, extending the expiry date to January 31, 1992, in the same amount of $20,570.00, with all other terms and conditions remaining the same; and
WHEREAS, the County Attorney's Office has reviewed said Amendment to Irrevocable Letter of Credit No. S42932 and has approved the same as to form.
NOW, THEREFORE, BE IT RESOLVED that the Amendment to Irrevocable Letter of Credit No. S42932 dated December 19, 1990, from the United Bank of Denver extending the expiration date to January 31, 1992, with all other terms and conditions remaining the same, be and hereby is accepted.
BE IT FURTHER RESOLVED that said Amendment to Irrevocable Letter of Credit No. S42932 from the United Bank of Denver be deposited for safekeeping, together with the original Letter of Credit, by the Director of Administrative Services.
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