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Home My WebLink About20031414.tiff 384 RESOLUTION RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL FOR USE BY SPECIAL REVIEW PERMIT#1375 -JAMES TERRY/NELSON PIPELINE CONSTRUCTORS 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, by Resolution dated April 24, 2002, the Board approved the application of James Terry/Nelson Pipeline Constructors, 10711 Colorado Highway 52, Fort Lupton, Colorado 80621, for a Site Specific Development Plan and Use by Special Review Permit #1375 for a Use Permitted as a Use by Right in the Industrial Zone District (23,000 square-foot contractors office and shop facility) in the A (Agricultural) Zone District on the following described real estate, to wit: Lot B of Recorded Exemption #2765; being part of the W1/2 of the NE1/4 of Section 2, Township 1 North, Range 67 West of the 6th P.M., Weld County, Colorado, and WHEREAS, on August 5, 2002, the Board of County Commissioner of Weld County, Colorado, approved an Improvements Agreement According to Policy Regarding Collateral for Improvements between the County of Weld, State of Colorado, by and through the Board of County Commissioners of Weld County, and James Terry/Nelson Pipeline Constructors with terms and conditions being as stated in said agreement, and accepted Irrevocable Standby Letter of Credit SLCPPDX01588 from U. S. Bank National Association, International Banking Group, 111 S. W. Fifth Avenue, Suite 500, Portland, Oregon 97204, in the amount of $253,838.00, and WHEREAS, at the request of the applicant, staff from the Weld County Departments of Planning Services and Public Works have conducted visual inspections and recommend release of said collateral. NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld County, Colorado, that the Irrevocable Standby Letter of Credit SLCPPDX01588 from U. S. Bank National Association, International Banking Group, 111 S. W. Fifth Avenue, Suite 500, Portland, Oregon 97204, in the amount of$253,838.00, be, and hereby is, canceled and released. BE IT FURTHER RESOLVED by the Board that the Clerk to the Board be, and hereby is, directed to return said collateral to the appropriate issuing party. 111111 11111 1111111 11111 III 1111111111M 11111I I I11111 3075384 06/23/2003 11:29A Weld County, CO 1 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2003-1414 PL1590 oc il_ , Fir( CANCEL COLLATERAL - JAMES TERRY/NELSON PIPELINE CONSTRUCTORS (USR#1375) PAGE 2 The above and foregoing Resolution was, on motion duly made and seconded, adopted by the following vote on the 4th day of June, A.D., 2003. BOARD OF COUNTY COMMIS IONERS WEL COUNTY, COLO DO ATTEST: fat, / �1 •,.4 . 4, C vid E. Long, Chair :ld:zer:,ott '1 ' RobertDsden, Pro-Tern Deputy Clerk to the Board, 1 M. J. Geile APf R ED AS TO F :ak tory ad Date of signature: CV, o 111111111111111111111111 I I 1111111111111 I I 111111 I I I I I I I I 3075384 06/23/2003 11:29A Weld County, CO 2 of 2 R 0.00 D 0.00 Steve Moreno Clerk& Recorder 2003-1414 PL1590 Piettrg MEMORANDUM I IImp C TO: Board of County Commissioners COLORADO DATE: June 2, 2003 FROM: Kim Ogle, Planner III VA> 171 0 ,-- SUBJECT: USR-1375 - James Terry r r Nelson Pipeline Facility Request for Release of Collateral 0 9 U At the request of the applicant, the Department of Planning Services performed a site inspection on May 20, 2003. The proposed plant materials associated with the approved Landscape Plan have been installed and all material appears healthy and unstressed. All other transportation items should be verified by the Department of Public Works prior to release. The Department of Public Works in their memorandum dated May 8, 2003 states that a site inspection was performed on May 5, 2003 and all items with the exception of the Type L rip rap placement had not been completed. Mr. Carroll states that all other transportation related items have been installed. Kim Ogle, of the Department of Planning Services received an electronic mail from Mr. Carroll on May 30, 2003 stating that the rip rap was in place and approved by the Department of Public Works. Given that all transportation and non-transportation items had been installed and completed to the satisfaction of the Departments of Public Works and Planning Services, it is recommended that the US Bank Irrevocable Letter of Credit number SLCPPDX01588 be released. SERVICE,TEAMWORK,INTEGRITY,QUALITY 2003-1414 4 *: MEMORANDUM Wi`Pe. TO: Board of County Commissioners COLORADO DATE: May 28, 2003 FROM: Kim Ogle, Planner III SUBJECT: USR-1375 - James Terry Nelson Pipeline Facility Request for Release of Collateral At the request of the applicant, the Department of Planning Services performed a site inspection on May 20, 2003. The proposed plant materials associated with the approved Landscape Plan have been installed and all material appears healthy and unstressed. Given that all non-transportation items had been installed and completed to the satisfaction of the Department of Planning Services, this office recommends that the US Bank Irrevocable Letter of Credit number SLCPPDX01588 be released. All other transportation items should be verified by the Department of Public Works prior to release. SERVICE,TEAMWORK,INTEGRITY,QUALITY Weld County Planning Department Kita GREELEY OFFICE MAY 9 2003 • MEMORANDUM TO: Kim Ogle, Planner III DATE: May 8, 2003 C FROM: Donald Carroll, Engineering Administrator }y\U` COLORADO SUBJECT: USR-1375, Nelson Pipeline Facility Release of Collateral At the request of the applicant, I performed a site investigation on May 5, 2003, and verified all the transportation items except the Type L rip rap placement. The first location is at the outlet structure of the retention pond area, the second location is at the cross culvert adjacent to the 24" reinforced concrete pipe, and the third item is the posting and installation of the 24" x 24" stop sign at the appropriate location prior entering on to State Highway 52. All other transportation items appear to be installed and functioning. Once these additional items have been installed, please contact the Public Works Department for a follow-up inspection. All other non-transportation items should be verified by Planning Services prior to release. pc: USR-1375 M:\PLANNING\USR-5.d oc Kim Ogle - Re: Collateral Page 1 From: DONALD Carroll To: Ogle, Kim Date: 5/30/03 12:53PM Subject: Re: Collateral I stoped by today, all the Rip Rap was in-place. ok with me. >>> Kim Ogle 05/30/03 07:21AM >>> Are you heading this direction today? >>> DONALD Carroll 05/28/03 07:12AM >>> I have been by there the last two Friday ,and there is no change. >>> Kim Ogle 05/28/03 06:41 AM >>> Nelson needs a Re-check? Your comments are most appreciated From: CAROL Harding To: Carroll, DONALD; kogle Subject: Non-renewal of Collateral - Nelson Pipeline Constructors I receive notice from U.S. Bank that irrevocable letter of credit#SLCPPDX01588, for the account of Nelson Pipeline Constructors, will NOT be renewed. Therefore, it expires in full on July 24, 2003. This letter of credit is being held for USR#1375, (James Terry). Please do site insepctions to see if the letter of credit can be released, or whether replacement collateral is necessary. Kim, if replacement collateral is necessary,please be sure to get it prior to July 24, 2003. Thanks. Carol ®bank. Five Star Se n'ce Guaranteed U. S . BANK NATIONAL ASSOCIATION SWIFT: USBKUS44PDX INTERNATIONAL DEPT. PD-OR-T5CE, SUITE 500 TELEX: TRT 192179 111 SW FIFTH AVENUE, PORTLAND, OR 97204 TOLL FREE: 866-359-2503 P.O . BOX 6979, PORTLAND, OR 97228-6979 FAX: 503-275-5132 05/06/03 BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY 915 10TH STREET GREELEY, CO 80632 RE : OUR IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER SLCPPDX01588 FOR ACCOUNT OF: NELSON PIPELINE CONSTRUCTORS 6215 COLORADO BLVD. COMMERCE CITY, CO 80022 WE HEREBY WISH TO INFORM YOU THAT WE ELECT NOT TO RENEW THIS LETTER OF CREDIT. THEREFORE, THIS LETTER OF CREDIT EXPIRES IN FULL ON JULY 24, 2003 . THIS LETTER SERVES AS OUR NOTIFICATION OF THIS ACTION SIXTY (60) DAYS PRIOR TO THE RELEVANT EXPIRY DATE AS STATED IN THE SPECIAL CONDITIONS OF THE ABOVE MENTIONED LETTER OF CREDIT. VERY TRULY YOURS, ) i I . AUTHOR � j IZED SIGNATURE RJ LE7T r;S5'uF C.((WIT GFFICER .CC ATTN: JEFFREY LAIRD CBC: DN-CO-BB4A . CC FILE . CC APPLICANT res CLERK TO THE BOARD ' PHONE (970)336-7215, Ext. 4225 FAX: (970)352-0242 P. O. BOX 758 O GREELEY, COLORADO 80632 COLORADO June 26, 2003 JAMES TERRY NELSON PIPELINE CONSTRUCTORS, INC. 10711 COLORADO HIGHWAY 52 FORT LUPTON, CO 80621 RE: Letter of Credit #SLCPPDX01588 Dear Mr. Terry: Enclosed please find a cop of Resolution#2003-1414 releasing the collateral being held by Weld County for your project. The original letter of credit has been returned to U.S. Bank National Association International Banking Group, 111 S. W. Fifth Avenue, Suite 500, Portland, Oregon 97204. If you have questions or need additional information, please do not hesitate to contact me at (970) 336-7215, Extension 4217. Very truly yours, Carol A. Harding Deputy Clerk to the Board us bank • Five St Sen�ce Guaran[cd�♦ ttoc�4 U.S. BANK NATIONAL ASSOCIATION $0 42 0 INTERNATIONAL BANKING GROUP Lpp * 4 o<2 III S.W. FIFTH AVE., SUITE 500 42 4 PORTLAND, OREGON U.S.A. 97204 � o 44 rr4'a 4-�• ta SWIFT: USBKUS44PDX FAX: (503)275-5132 S� tv tio3$ �t ° JULY 24, 2002 1' 41 .• • ° t� 4- Cr Ga°�t, IRREVOCABLE STANDBY LETTER OF CREDIT BENEFICIARY: APPLICANT: BOARD OF COUNTY COMMISSIONERS NELSON PIPELINE CONSTRUCTORS, INC. OF WELD COUNTY 6215 COLORADO BLVD. 915 10TH STREET COMMERCE CITY, CO 80022 GREELEY, CO 80632 LETTER OF CREDIT NUMBER: SLCPPDX01588 EXPIRY DATE: JULY 24, 2003 AT: ISSUING BANK'S INTERNATIONAL BANKING COUNTERS LOCATED AT ADDRESS INDICATED ABOVE. AMOUNT: NOT EXCEEDING US$253,838.00 (TWO HUNDRED FIFTY-THREE THOUSAND EIGHT HUNDRED THIRTY-EIGHT AND NO/100 U.S. DOLLARS) WE HEREBY OPEN OUR IRREVOCABLE STANDBY LETTER OF CREDIT IN YOUR FAVOR FOR THE ACCOUNT OF NELSON PIPELINE CONSTRUCTORS, INC., 6215 COLORADO BLVD., COMMERCE CITY, CO 80022, FOR A SUM NOT TO EXCEED THE AGGREGATE OF TWO HUNDRED FIFTY-THREE THOUSAND EIGHT HUNDRED THIRTY-EIGHT AND NO/100 U.S. DOLLARS. EACH DRAFT SO DRAWN MUST BE MARKED "DRAWN UNDER U.S. BANK NATIONAL ASSOCIATION, 111 S.W. FIFTH AVE., SUITE 500, PORTLAND, OREGON U.S.A. 97204, IRREVOCABLE STANDBY LETTER OF CREDIT NUMBER SLCPPDX01588 AND BE ACCOMPANIED BY A"SIGNED STATEMENT FROM THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO, STATING THAT NELSON PIPELINE CONSTRUCTORS, INC. HAS COMMITTED A MATERIAL BREACH OF THE IMPROVEMENTS AGREEMENT ACCORDING TO POLICY REGARDING COLLATERAL FOR IMPROVEMENTS REGARDING USR-1375 SITE PLAN BY AND BETWEEN NELSON PIPELINE CONSTRUCTORS, INC. AND THE BOARD OF COUNTY COMMISSIONERS OF THE COUNTY WELD." THIS CREDIT IS SUBJECT, SO FAR AS APPLICABLE, TO "THE UNIFORM CUSTOMS AND PRACTICE FOR DOCUMENTARY CREDITS" (1993 REVISION) INTERNATIONAL CHAMBER OF COMMERCE PUBLICATION NO. 500. ***THIS PAGE 001 FORMS AN INTEGRAL PART OF CREDIT SLCPPDX01588*** ®lank Five Star Service Guaranteed(t WE HEREBY AGREE WITH YOU THAT DRAFT(S) UNDER AND IN COMPLIANCE WITH THE TERMS OF THIS LETTER OF CREDIT WILL BE DULY HONORED UPON PRESENTATION TO US TO OUR MAIN OFFICE, UNDER U.S. BANK NATIONAL ASSOCIATION, 111 S.W. FIFTH AVE., SUITE 500, PORTLAND, OREGON U.S.A. 97204. THIS LETTER OF CREDIT INITIALLY EXPIRES ON JULY 24, 2003. THIS LETTER OF CREDIT IS AUTOMATICALLY EXTENDED WITHOUT AMENDMENT, FOR ADDITIONAL ONE YEAR PERIODS FROM THE CURRENT OR ANY FUTURE EXPIRATION DATE UNLESS AT LEAST SIXTY(60) DAYS PRIOR TO ANY SUCH EXPIRATION DATE, U.S. BANK NATIONAL ASSOCIATION NOTIFIES BENEFICIARY IN WRITING BY COURIER THAT THE LETTER OF CREDIT WILL NOT BE RENEWED. IN THE CASE YOU RECEIVE SUCH A NOTIFICATION, YOU MAY DRAW BY PRESENTATION OF THE FOLLOWING: (A) A DRAFT AT SIGHT ON U.S. BANK NATIONAL ASSOCIATION; (B)A STATEMENT PURPORTEDLY SIGNED BY AN OFFICIAL OF THE BOARD OF COUNTY COMMISSIONERS OF WELD COUNTY, COLORADO, STATING THAT WE HAVE RECEIVED NOTICE FROM U.S. BANK NATIONAL ASSOCIATION THAT THE LETTER OF CREDIT NO. SLCPPDX01588 WILL NOT BE RENEWED AND THAT NELSON PIPELINE CONSTRUCTORS, INC. HAS FAILED TO PROVIDE PROOF OF ADEQUATE COLLATERAL AND SUBSTITUTION OF THIS LETTER OF CREDIT NO. SLCPPDX01588; (C) COPY OF LETTER FROM U.S. BANK NATIONAL ASSOCIATION STATING NON-RENEWAL OF LETTER OF CREDIT NO. SLCPPDX01588 AND THE ORIGINAL LETTER OF CREDIT. U.S. BANK NATIONAL ASSOCIATION A MEMBER OF THE FEDERAL RESERVE SYSTEM UL Jac : ANDBY LETTERS OF CREDIT M.CHRIS JOACHIMS LETTERS OF CREDIT OFFICER ***THIS PAGE 002 FORMS AN INTEGRAL PART OF CREDIT SLCPPDX01588*** Hello