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RESOLUTION
RE: APPROVE RELEASE OF COLLATERAL - BLACK HILLS TRUCKING, 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, on August 26, 1991, approve a Landscape
Improvements Agreement with Black Hills Trucking, Inc. , concerning property
described as part of the SEt of Section 31, Township 1 North, Range 66 West of
the 6th P.M. , Weld County, Colorado, and
WHEREAS, pursuant to said Landscape Improvements Agreement, an Irrevocable
Letter of Credit with the Hilltop National Bank, Casper, Wyoming, in the amount
of $25, 000.00 was submitted to Weld County, and
WHEREAS, it has been determined by the Board that the collateral being held
by Weld County is no longer necessary to secure said agreement, and
WHEREAS, upon recommendation of the Department of Planning Services staff,
the Board deems it advisable to release said Irrevocable Letter of Credit.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the Irrevocable Letter of Credit with the Hilltop National
Bank, Casper, Wyoming, in the amount of $25,000.00 be, and hereby is, 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.
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 6th day of May, A.D. , 1992.
BOARD OF COUNTY COMMISSIONERS
ATTEST: 444,,,i
J,
`'�WELD COUNTY, COLORADO
Weld County Clerk to thetiki Board g -
Geo a Kennedy, Chairman
BY: S�i
Deputy Cl rk to the Board onstance L. Harbert, Pro-Tem
APPROVED AS 0 FORM: % y
C. W. Kir
\
County Attorney Gor . acy
W. H. Webster
PL0464
920402
al'f r1 ( C. I-,5
HILLTOP �z r t,„ . NATIONAL BANK
_r.0 001:•,-P C.LS RO40 • =NONE 265-274 0 • P.O. BOX 2680 • CASPER.WYOMING 82602
IRREVOCABLE STANDBY LETTER OF CREDIT NO. 428-91
September 16, 1991
TO: Board of County Commissio rs of
Weld County, Colorado
Greeley, CO
Gentlemen:
By order of our client, Hills Trucking, I here
establish this Ir vocab etter of Credit No. in
favor for an amo up to t not exceeding the a, - ate s
Twenty-Five Thou nd S . Dollars (U.S . $25 , 0 0 . ) effe ve
immediately, and r g at the offices of t on S lis
1992 , unless renewe hereinafter provided. -
Funds unde t is L ter of Credit are a ail 0 you aglas
sight draf sig d by one authorize C ' oner, yawn
beari the a "Drawn under the Hi at 1 k, C r,
Wyoming Irre able Letter of Credit 2 " and ac ied
by ( a ffidavit, signed by the aut o ssion ating
that e entitled to draw fund t this ter of
-dit (b) the original of t oC ediflik
T , et er of Credit s is full he s of our
u - 'ng. Such underta in "11
of in any e modified,
am= .ed or amplified by f c t oc e� r instrument
ref- ed to herein or in w a is referred fer to
to which this Letter d le
s an such reference
all not be deemed to i h at b� rence any document
r instrument.
All opening bank charge _a omm ions incurred in this
transaction are for the accou a Hills Trucking, Inc.
We hereby agree with the drawer, en ser and bona fide holder of
a draft drawn under and in compliance with the terms of this credit
that such draft will be duly honored upon presentation to the
drawee.
Except as otherwise expressly stated herein, this credit is subject
to the Uniform Customs and Practice for Commercial Documentary
Credits (1983 Revision) I . C. C. Publication No. 400 . In the event
of any interruption of the Bank' s business by reason of any
occurrence as described in Article 19 of I . C. C. 400 , or for any
other reason, and in the event that this Letter of Credit by fits
4? C,4j. 61 ell-;a..c3
lit (IA inEmoRnnourn
soul
Wilk Board of County Commissioners May 6, 1992
To Date
Keith A. Schuett, Current Planner
COLORADO From
Release of collateral for Black Hills Trucking located in part
Subject s£ the S S nf Sertinn 11 , TIN, R66W nf the 6th P M Weld
County. Colorado.
In August 1991, the Board approved an improvements agreement and accepted an
irrevocable letter of credit for landscaping on property used by Black Hills
Trucking. The required landscaping has been installed and Gerald Christianson,
Terminal Superintendent for Black Hills Trucking is requesting that the
collateral be released.
I inspected the property on April 28. The required landscaping has been
installed.
The Department of Planning Services staff recommends that the Board release the
collateral.
920402
INSPECTION REPORT
NAME: Black Hills Trucking
LEGAL DESCRIPTION OF THE PROPERTY: Part of the SE4 of Section 31, T1N, R66W of
the 6th P.M. , Weld County, Colorado
CASE NUMBER: SPR-156
DATE: April 28, 1992
The property was inspected due to a request by Gerald A. Christianson, Terminal
Superintendent for Black Hills trucking. The inspection was to determine if the
landscaping installed on site are in compliance with the approved plans and the
collateral for the improvements agreement could be released. The required
landscaping as shown on the plat has been installed.
ei c i e t
Current Planner
ri
Black 11s
TRUCKING INC
P.O. Box 2360
April 21, 1992 CASPER. WYOMING
82602
o C IV
APR 2 3 1992
Wold erou-iv planning
Keith Schuett
Department of Planning Services
915 10th Street
Greeley, CO 80631
Dear Mr. Schuett:
The Brighton Terminal of Black Hills Trucking, Inc. , located at 12556
Weld County Road 21/2, Brighton, Colorado, has completed all landscape
requirements as agreed upon.
We are requesting a final inspection of the property. Please call
upon receipt of this letter so that we will know when to expect your
visit. Thank you.
Sincerely yours,
Gerald A. Christianson
Terminal Superintendent
GC/dls
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