HomeMy WebLinkAbout930154.tiff RESOLUTION
RE: APPROVE CANCELLATION AND RELEASE OF COLLATERAL - TIRE MOUNTAIN, INC.
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, the Board did, by Resolution dated October 3, 1990 approve an
Amended Certificate of Designation, Amended Site Specific Development Plan, and
Amended Use by Special Review Permit for a tire landfill, storage, and recycling
facility with Tire Mountain, Inc. , concerning property described as SE'„ of
Section 32, Township 3 North, Range 65 West of the 6th P.M. , Weld County,
Colorado, and
WHEREAS, by Resolution dated September 11, 1991, the Board approved a
Supplemental Performance Guarantee Agreement, with the terms and conditions being
as stated in said agreement, and
WHEREAS, in said Supplemental Performance Guarantee Agreement, the
Reclamation Surcharge Fund was established, under which agreement Tire Mountain,
Inc. was required to charge a 5% reclamation surcharge on all tires coming into
applicant's facility to be paid to the County Treasurer, and
WHEREAS, by Resolution dated September 9, 1992, the Board did reduce the
amount of collateral required in said Supplemental Performance Guarantee
Agreement, and accepted Standby Irrevocable Letter of Credit No. 277, drawn on
Affiliated National Bank of Greeley, in the amount of $20,000, and
WHEREAS, Tire Mountain, Inc. , through their attorney, Ken Lind, has
submitted a request to terminate and release said letter of credit, as well as
all funds currently held by the County in the Reclamation Surcharge Fund,
including accrued interest, and
WHEREAS, said Reclamation Surcharge Fund has accumulated $13,003.83 which
was paid by Tire Mountain, Inc. , with an additional $311.82 interest earned,
making a total of $13,315.65, as shown on Exhibit "A" attached hereto and
incorporated herein by reference, and
WHEREAS, after review, the Board deems it advisable to partially approve
said request by releasing Letter of Credit No. 277.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Standby Irrevocable Letter of Credit No. 277, drawn
on Affiliated National Bank of Greeley in the amount of $20,000, 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 Letter of Credit to the appropriate issuing
party.
930154
PLot/510 z e Fii Ceti)
RE: RELEASE COLLATERAL - TIRE MOUNTAIN, INC.
PAGE 2
BE IT FURTHER RESOLVED by the Board that the request to release $13,315.65
presently being held in the Reclamation Surcharge Fund be, and hereby is, denied.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 10th day of February, A.D. , 1993.
i f BOARD OF COUNTY COMMISSIONERS
ATTEST: WELD COUNTY, COLORADO
/ �. 4. `-
Weld County Clerk to the Board (,a1lia .max ,, fi�-�4'L2
(}� Constance L. Harb__ertt.. Chnairman
BY: ,j I'ti r-v-4-vY� //A ��,./�//�/'�/�/� �/C,/{J��`-
Deputy C r to the Board W. H. ebster,"Prrp-Tem //
APPROVED AS TO M: Cif '
orge Baxter
C -%];-5:;)
ounty Attorney Dafi K. Hall
4 S ,t w Ltc, j ti t/C/7u`.p t
/Barbara J. Kirkmeye
930154
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930154
LIND, LAWRENCE E.T. OTT WA wit- r�
ATTORNEYS AT LAW _
THE LAW BUILDING /
WI I ELEVENTH AVENUE I _ „ 1
P O.BOX 326
GREELEY,COLORADO 90632 ._
GEORGE H.OTLTNHOFF ThL HONE
KENNETH F.LIND �i 1 pm 353.R3
KIM R LAWRENCE
--' TEtECOPIER
December 10, 1992 (303(356-1111
Weld County Administrative Offices
1400 North 17th Avenue
Greeley, CO 80631
Attention: Board of County Commissioners of Weld County
Re: Tire Mountain, Inc. (Amended USR - 842)
Dear Chairman Kennedy:
On November 19 , 1992 , Tire Mountain, Inc. completed operations
for placing all stored surface tires into the storage cells.
Placement of all surface stockpiled tires was required pursuant to
Colorado State Department of Health regulations as well as the
Development Standards concerning this USR. All of this work was to
be completed on or before May 1, 1993 and to insure performance
Tire Mountain, Inc. , Jarrald Jamison and Faye Jamison entered into
a Supplemental Performance Guarantee Agreement dated September 11,
1991 .
Enclosed with this letter is a copy of a memorandum and
Statement of Compliance dated December 8 , 1992 from the Weld County
Health Department which indicates compliance with the Development
Standards. Pursuant to Paragraph 12 . 0 of the Supplemental
Performance Agreement, this letter is a request for the County to
(1) terminate and release Standby Irrevocable Letter of Credit No.
,) 277 dated September 8 , 1992 and (2) release and pay over to Tire
Mountain, Inc. all funds currently held by the County in the
Reclamation Surcharge Fund (plus accrued interest) .
The records of Tire Mountain, Inc. indicate that the sum of
$13 , 653 . 49 has been paid into the Reclamation Surcharge Fund but we
have no information as to the interest earned upon this money.
On behalf of Mr. and Mrs. Jamison and Tire Mountain, Inc. I
want to thank the Board of Commissioners for their consideration
and cooperation during these past few years. Tire Mountain has
been very pleased to cooperate with the County and State in
properly and safely storing these tires. Needless to say, all
members of the Board have an open invitation to visit and inspect
9:;C1E4
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the facility prior to terminating the Letter of Credit and paying
out the Reclamation Surcharge funds.
Very truly yours,
LIND/WWFOCE TTENHOFF
Kenn th F. Lin
KFL/cg
pc: Jerry Jamison
Weld County Department of Planning Services (Keith Schuett)
Weld County Department of Health (John Pickle)
Weld County Attorney (Lee Morrison)
:CE VE.
1992
mEmORAnDUm
WIi'D C. Keith Schuett, Planning Dept. December 8, 1992 ala i/
To Date //// d
COLORADO Trevor Jiricek, Solid and Hazardous Waste Speciali t, �
From
Subject: Tire Mountain, U.S.R.-842
On Wednesday, December 2, 1992, I conducted a routine inspection of the Tire
Mountain Tire Disposal Facility. On this date, the facility was found to be in
compliance with both the "Regulations Pertaining to Solid Waste Disposal Sites
and Facilities" and the Development Standards as set forth in U.S.R.-842.
This document will serve as a "Statement of Compliance" in respect to all surface
tire stockpiles being disposed on site in compliance with the Development
Standards as set forth in U.S.R.-842, as amended.
If you have any question, please contact me at 353-0635.
TJ/2468
cc: Kenneth F. Lind, Lind, Lawrence & Ottenhoff
Jerry Jamison, Tire Mountain, Incorporated
9; O'7 a4
IL . i\_` . 30i4 1 — H 3 i c t
ga04.3
1992 I REST COMPARISON
MONTH C-SAFE FED. CASH COLODIV CSWAT COLOTRUST
JANUARY 4. 340% 4.060% 4.120% 4.060% 3 .970%
FEBRUARY 4.400% 3.970% 3 .900% 4.100% 3.880%
MARCH 4.200% 3 .900% 3 .730% 3 .790% 3 . 880%
APRIL 4.140% 3.770% 4.120% 4.120% 3 .770%
MAY 3.980% 3.640% 4.090% 3.660% 3.660%
JUNE 4. 330% 3 .590% 4. 330% 3.750% 3.650%
JULY 3 .730% 3. 300% 3 .210% 3 .480% 3 .480%
AUGUST 3 .470% 3.210% 3 .070% 3 .490% 3 .260%
SEPTEMBER 3.420% 3,070% 2.950% 3 .210% 3 .200%
OCTOBER 3.280% 2.990% 2.800% 2. 880% 2. 970%
NOVEMBER 3. 350% 2 .880% 2.800% 3.150% 2.890%
DECEMBER 3 .460% 2.830% 2 .000% 2.830% 2.920%
AVERAGE 3.842% 3.750% 3.427% 3.543% 3 .461%
9301.51
1991 INVESTMEN N EREST
(ONTR C-SAFE FED. SR JEFFTRUST ITC COLODIV CSWAT COLOTRUST
JANUARY 7.000% 6.500% 7.580%
?EBRUARY 6.560% 6.394% 7.690%
4ARCR 6.360% 6.140% 7.330%
APRIL 6.030% 5.920% 6.690%
NAY 5.800% 5.740% 6.720%
JUNE 5.900% 5.710% 6.270%
JULY 5.800% 5.690% 6.640%
AUGUST 5.600% 5.500% 7.810% ' 1.240
SEPTEMBER 5.710% 5.370% 6.640% .1 %
OCTOBER 5.400% 5.140% 6.230% 7. 60%
NOVEMBER 5.200% 4.820% 5.517% 7 0%
DECEMBER 5.100% 4.560% 4.572% 4.750% 4 370%
AVERAGE 5.872% 5.623% 6.829% 8 318 4.572% 4 750% 4 3707
92041.54
"Affiliated National Bank
Greeley
7th Street at 9th Avenue
Post Office Box 1098
Greeley, Colorado 80632
303356.1234
Standby Irrevocable Letter of Credit
No. 277
Date: September 8, 1992 fin/
TO: Weld County w, �
915 10th Street 3 (�/4
Greeley, CO 80631 r
Gentlemen:
We hereby open our Irrevocable Letter of Credit in your favor in
the amount of Twenty Thousand Dollars and no/100 Dollars
( $20 , 000 . 00) available by drafts subject to the following terms
and conditions :
1 . Drafts All drafts must be drawn on Affiliated National
Bank-Greeley on or before May 1, 1993, and must bear the
reference: "DRAWN ON AFFILIATED NATIONAL BANK-GREELEY LETTER OF
CREDIT NO. 277, DATED SEPTEMBER 8, 1992 .
2 . Notation This is a notation letter of credit. Each
draft must be accompanied by this Letter of Credit for
endorsement by Affiliated National Bank-Greeley of the amount and
date of each draft and the balance remaining. This Letter of
Credit must be surrendered to Affiliated National Bank-Greeley
when exhausted.
3 . Purpose This Letter of Credit is issued for the account
of Tire Mountain, Inc . Disbursements will be made under this
Letter of Credit to pay for the construction and filling of cells
to hold discarded tires .
4 . Documents All drafts must be accompanied by the
following documents :
a. Presentation of this Letter of Credit for notation.
b. Written Statement from Beneficiary that the
applicant has not performed obligations specified in a
written agreement between applicant and Weld County.
5 . Other Terms and Conditions This Letter of Credit shall
not be transferable. This letter of credit is subject to the
Uniform Customs and Practice for Documentary Credits, I .C.C.
Publication No. 290 (1974 Revision) . Where not inconsistent with
the foregoing, the Letter of Credit shall be subject to the laws
9301.54
of the State of Colorado and to the Uniform Commercial Code as
adopted therein.
6 . Obligation of Issuer The Affiliated National Bank-
Greeley agrees with the drawers, endorsers, and good faith
holders of drafts drawn under an in compliance with the terms and
conditions of this Letter of Credit that Affiliated National
Bank-Greeley will duly honor such drafts upon presentation to
this office.
7 . This Letter of Credit supersedes AFFILIATED NATIONAL
BANK - Greeley' s Letter of Credit #270 and shall only be valid
upon surrender of AFFILIATED NATIONAL BANK - Greeley' s Letter of
Credit #270 .
THE Affi ' at ' al -G eley
By:
Ra p}z!'A. Kreitlerl
Vice President
RAK/b1s
D273
I 1 .
9204.54
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