HomeMy WebLinkAbout780730.tiff RESOLUTION
RE: APPROVAL OF REDUCTION OF LETTER OF CREDIT FROM $103, 000. 00 TO
$50, 000. 00 IN RE: REVISED SUBDIVISION IMPROVEMENTS AGREEMENT
FOR KNAUS SUBDIVISION, SECOND FILING AND KNAUS SUBDIVISION,
THIRD FILING.
WHEREAS, the Board of County Commissioners of Weld County,
Colorado, pursuant to Colorado statute and the Weld County Home
Rule Charter, is vested with the authority of administering the
affairs of Weld County, Colorado, and
WHEREAS, an application has been made to the Board of County
Commissioners by Dave Knaus, Jr. , under the authority of Section
11, 11-3 of the Weld County Subdivision Regulations for a reduction
of a letter of credit issued by the Greeley National Bank to secure
the revised subdivision improvements agreement covering Knaus Sub-
division, Second Filing and Knaus Subdivision, Third Filing in
Weld County, Colorado. The application by Dave Knaus, Jr. , requests
that said letter of credit be reduced from the sum of $103, 000. 00
to $50, 000. 00, and
WHEREAS, the Department of Engineering Services has inspected
both subdivisions and have reported that an excess of 50% of the
improvements covered by the revised subdivision improvements agree-
ment have been completed and it is in order that a reduction from
$103, 000. 00 to $50, 000. 00 on the abovementioned letter of credit is
in order.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Com-
missioners of Weld County, Colorado, that the letter of credit from
the Greeley National Bank which expires June 2, 1978 should be re-
duced from the sum of $103, 000. 00 to $50, 000. 00 and a substitute
irrevocable letter of credit may be substituted effective June 2, 1978,
to expire one year following the coletion of all subdivison improvements.
The above and foregoing Resolution was on motion duly made
and seconded, adopted by the following vote on the 22nd day of
May, A.D. , 1978.
J7 vI BOARD OF COUNTY COMMISSIONERS
ATTEST: ; �,`,.-;,4i. ( 1,„,A - typist-anti ri t-ant/ WELD COUNTY, COLORADO
Weld County 'Clerk and Recorder c f�� vatiF
and lerk to the
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,Deputy Count lerk _ i � J
- APPR ED AS TO FORM: 0! C' ol+--
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, County Attorney
Date Presented: May 24, 1978
May 18, 1978
G. Frank Smith, Jr.
Weld County Engineer
P. O. 758
Greeley, Colorado 80631
Dear Mr. Smith:
I have developed enough lots in Knaus Subdivision to
reduce the bond in half, in fact over half. I have
black topped for 26 lots with street signs and three
fire hydrants, have 73rd Avenue cut for grade and some
of 11th Street for a total length of grade on 11th Street
and 73rd avenue of 1460 feet. I have 18 more lots left
which are one-half acres .
Sincerely, 9atl < rt.c < 4
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Dave Knaus Jr.
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May 26 , 1978
Greeley National Bank
P.O. Box 1098
Greeley, Colorado 80632
ATTN : James W. Parker III
Vice President
Dear Mr. Parker:
With regard to the letter of credit No. 13 for Knous Sub-
division, I am submitting to you the resolution passed by
the Board of County Commissioners of Weld County, Colorado
on the 22nd day of May, 1978 . This resolution approves
the reduction of the letter of credit from $103 , 000 to
$50 , 000 to expire one year following the completion of the
improvements . I am informed that the improvements will
undoubtedly be completed within the next twelve (12) months.
I would appreciate your issuing the substitute letter of
credit no later than June 2nd, 1978 .
Thank you for your cooperation.
Very truly yours
Thomas O. David
County Attorney
Weld County, Colorado
Too/ta
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