HomeMy WebLinkAbout920854.tiff RESOLUTION
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RE: APPROVE REDUCTION IN AMOUNT OF SUPPLEMENTAL PERFORMANCE GUARANTEE, RELEASE
OF EXISTING COLLATERAL, AND ACCEPTANCE OF COLLATERAL IN THE AMOUNT OF
$20,000
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, by Resolution dated October 3, 1990, approved an
Amended Certificate of Designation, an Amended Site Specific Development Plan,
and an Amended Use by Special Review Permit for a tire landfill, storage, and
recycling facility, and
WHEREAS, the Board, by Resolution dated September 11, 1991, approved a
Supplemental Performance Guarantee Agreement, with the terms and conditions being
as stated in said agreement, and
WHEREAS, Tire Mountain, Inc. has submitted a request to reduce the amount
of collateral based on an estimate of work left to be completed, and
WHEREAS, Tire Mountain, Inc. has submitted Standby Irrevocable Letter of
Credit No. 277, drawn on Affiliated National Bank of Greeley, in the amount of
$20, 000, and
WHEREAS, after review, the Board deems it advisable to approve said request
to reduce the amount of collateral required by Weld County, and accept the new
collateral presented by Tire Mountain, Inc.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of Weld
County, Colorado, that the amount of collateral required by Weld County for the
Supplemental Performance Guarantee Agreement with Tire Mountain, Inc. be, and
hereby is, reduced to $20,000.
BE IT FURTHER RESOLVED by the Board that Irrevocable Letter of Credit #270
presently being held by Weld County be, and hereby is, released.
BE IT FURTHER RESOLVED by the Board that Irrevocable Letter of Credit #277
in the amount of $20,000 and drawn on the Affiliated National Bank of Greeley be,
and hereby is, accepted.
B 1351 REC 02303560 09/15/92 15 : 10 $0 .00 1/002
F 0368 MARY ANN FEUERSTEIN CLERK & RECORDER WELD CO, CO
920854
RE: SUPPLEMENTAL PERFORMANCE GUARANTEE - TIRE MOUNTAIN
PAGE 2
The above and foregoing Resolution was, on motion duly made and seconded,
adopted by the following vote on the 9th day of September, A.D. , 1992.
/ � D nrd BOARD OF COUNTY COMMISSIONERS
ATTEST: /fit{Y/�� //,1/ ' WELD CO NTY, COLORADO
Weld County Clerk to the Board
o ge Ke nedy, Chairman
BY i . 2L
1'"Clerk to the Board Constance L. HarbeY`_, ro-Tem
APPROVE r `,`T 0 M:
C. W. Kir y
County Attorney Gor J 7 f � / 4 5;q
W. H. Webster
B 1351 REC 02303560 09/15/92 15 : 10 $0 . 00 2/002
F 0369 MARY ANN FEUERSTEIN CLERK & RECOr:DER WELD CO, CO
920854
,411, !,� mEmoRAnDUm
Wilk Board of County Commissioners Dote September 9, 1992
To
Keith A. Schuett, Current Planner
COLORADO From
Performance guarantee for Tire Mountain, Inc.
subject:
On September 11, 1991, the Board of County Commissioners and Jarrald A. Jamison
and Fay L. Jamison entered into a supplemental performance agreement. Section
8 of this agreement, allowed the applicant to submit a request to the County to
reduce the amount of collateral originally established.
The attached letter from Ken Lind, Attorney for Mr. and Mrs. Jamison is
requesting the amount of collateral be reduced from the existing $32,500 to
$20,000.
This request is based on an estimate of 5 cells being required to contain the
remaining surface tire stockpile. One cell is constructed and being filled. Four
cells need to be constructed and five cells need to be filled. The original cost
estimate is $5,500.00 to construct a cell and $1,500.00 to fill each cell. The
construction and filling costs to dispose of all surface tires totals $29,500.00.
The proposed $20,000.00 collateral plus the $10.269. 38 in the reclamation
surcharge fund appear to be adequate to ensure that the existing surface tire
stockpile will be properly disposed of.
920854
LIND, LAWRENCE & OTTENHOFF
ATTORNEYS AT LAW
THE LAW BUILDING
1011 ELEVENTH AVENUE
P.O.BOX 326
GREELEY,COLORADO 80632
GEORGE H.OTTENHOFF TELEPHONE
KENNETH F.LIND (303)353.2323
KIM R.LAWRENCE (303)356.9160
TELECOPIER
(303)356-1111
August 11, 1992
V
Board of County Commissioners of Weld County
915 Tenth Street AUG 1 1 1992
Greeley, CO 80631
Re: Tire Mountain, Inc. (Amended USR - 842) ��'�� ✓PIaa�6ng
Dear Chairman Kennedy:
On September 11, 1991 the Board of County Commissioners of
Weld County and the principals of Tire Mountain entered into a
Supplemental Performance Guarantee Agreement (the "Agreement")which
specifically concerned the construction and filling of cells for
existing surface tire stockpiles located at the Tire Mountain site.
Section 8. 0 of said Agreement allowed the applicant (Tire
Mountain) to submit a written request to the County to release or
reduce the performance guarantee amount originally established at
$32 , 500. 00. A one year Irrevocable Letter of Credit was submitted
to the County in compliance with the agreement and said Letter of
Credit is set to expire on September 12 , 1992 .
The purpose of this letter is to request a reduction in the
amount of said Letter of Credit (or alternative Certificate of
Deposit) as the applicant has both constructed and filled a larger
number of cells than required by the Agreement, and the entire
$32 , 500. 00 (plus the sums of money held pursuant to the reclamation
surcharge fund) exceed the amount necessary to finish constructing
and filling the cells for the existing surface tires.
Specifically, as of July 31, 1992 , the applicant has
constructed and filled 7 cells (3 1/2 trenches) , and has
constructed and is filling another 1 cell (1/2 trench) .
The Agreement required the applicant to construct and fill not
less than seven cells by December 31, 1992 and the applicant has
already completed the minimum required.
As to the reclamation surcharge, as of July 31, 1992 , the
County had on deposit the sum of $10, 269. 38 . The September 11,
1991 agreement required the applicant to have paid $4, 000. 00 into
the surcharge fund by December 31, 1991 and the sum of $4 , 000. 00
Board of County Commissioners
August 11, 1992
Page 2
was actually paid into said fund. Additionally, the agreement
required the additional sum of $10, 000 . 00 to be paid into the
surcharge fund by December 31, 1992 and as of July 31, 1992 the
applicant had already paid into the surcharge fund the sum of
$6, 269 . 38 .
The applicant originally estimated that nine cells, total,
would be needed to be constructed and filled for all existing
surface stockpiles. The applicant has now determined that a total
of 12 cells will be needed to hold all surface stockpiles. Thus,
an additional 5 cells need to be constructed and filled to totally
hold the surface stockpiles.
The applicant originally estimated construction costs of each
cell to be $5, 500 . 00 and the sum of $1, 500. 00 to fill each cell.
Thus, the sum of $22, 000. 00 is needed to construct the additional
needed 4 cells and the sum of $7, 500. 00 is needed to finish filling
the remaining 5 cells. The total construction and filling costs to
dispose of all surface tires totals $29, 500. 00.
As the County has on deposit in the reclamation surcharge fund
as of July 31, 1992 the sum of $10, 269 . 38 , the additional sum of
$19 , 230. 62 is needed to finish the project. Therefore, pursuant to
Section 8 . 0 of the Agreement, it is requested that the applicant be
required to furnish additional collateral in the amount of
$20, 000. 00.
Very truly yours,
LIND, LAWSENCE O NHOFF
Kenneth F. Lind
KFL/cg
pc: Lee Morrison, Assistant Weld County Attorney
Keith Schuett, Weld County Department of Planning Services
John Pickle, Weld County Department of Environmental Services
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