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 November 26, 1984, accept Irrevocable Letter of Credit No. 10-15 from the Ken-Caryl National Bank in the amount of $32,187.50 to guarantee completion of secondary access necessary to serve Ken Caryl Ranch The Valley Filing No. 3, Phase II Subdivision; and
WHEREAS, the Board of County Commissioners did, on September 17, 1990, accept an Amendment to Letter of Credit No. 10-15 from the Ken-Caryl National Bank in the same amount of $32,187.50, extending the expiration date of said Letter to October 28, 1991, with all other terms and conditions remaining unchanged; and
WHEREAS, the Jefferson County Highways and Transportation Department has indicated, by memo dated December 20, 1990, that Phase 2 has been replatted as Ken Caryl Ranch The Valley Filing No. 3, Phase 3 and the new plat for Phase 3 has eliminated the need for the secondary access, and therefore said Letter of Credit may be returned to the developer.
NOW, THEREFORE, BE IT RESOLVED that Irrevocable Letter of Credit No. 10-15 from the Ken-Caryl National Bank, together with its Amendments, be returned by the Director of Administrative Services to the developer, Ballustrade Properties, at 10288 West Chatfield Avenue, Littleton, Colorado 80127.
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